China shares extended their rally on Wednesday to close at the highest in seven weeks, climbing for a nine straight session, led by banking and consumer stocks.
China’s producer prices rose at their slowest pace in 13 months in December, as the government’s war against winter smog dented factory demand for raw materials.
The country’s consumer inflation accelerated less than expected to 1.8 per cent in December from 1.7 per cent previously, reports Reuters.
At the close, the Shanghai Composite index was up 8.24 points or 0.24 per cent at 3,422.14.
The blue-chip CSI300 index was up 0.45 per cent, with its financial sector sub-index higher by 0.83 per cent, the consumer staples sector up 1.28 per cent, the real estate index up 0.17 per cent.
However, healthcare sub-index slipped 0.28 per cent.
The smaller Shenzhen index ended down 0.33 per cent and the start-up board ChiNext Composite index was down 0.7 per cent.
The largest percentage gainer in the main Shanghai Composite index was Changchun Gas Co Ltd up 10 per cent.