Singapore, Wednesday, 16 February 2022
On Wednesday, the Shanghai Composite jumped 0.7 percent to approximately 3,470, while the Shenzhen Component gained 0.5 percent to 13,420, as investors digested new data showing China's January inflation fell more than expected.
The consumer price index in China grew 0.9 percent in January, decreasing from 1.5 percent the previous month and falling short of market expectations of a 1% gain.
Meanwhile, producer inflation in the country increased by 9.1 percent in January, compared to a 10.3 percent increase the previous month and a 9.5 percent increase expected.
Stocks on the mainland also extended their gains from the previous session, when the central bank pumped additional liquidity into the financial system.
Furthermore, reports that Russia had evacuated some of its troops near the Ukrainian border boosted global share markets.
The Chinese market was led higher by new energy, healthcare, and technology stocks.
(Research and edit by: The Decision Maker)
Comments