China shares end up 0.3 pc, led by property

SHANGHAI: China's main stock index closed up 0.3 percent on Friday at a new five-month high, supported by strength in the property sector as investors looked to pick up bargains.

But stubbornly high inflation kept investors cautious, as the authorities could announce further tightening steps soon.

Consumer price inflation (CPI) in March sped to 5.4 percent from a year earlier, the fastest since July 2008 and topped market forecasts for a 5.2 percent increase, while China's gross domestic product (GDP) increased by 9.7 percent in the first quarter.

The benchmark Shanghai Composite Index ended at 3,050.5 points, its highest level since Nov. 11 after a 0.3 percent fall on Thursday. The index posted a 0.7 percent rise for the week.