SHANGHAI: Chinese shares closed lower on Tuesday as glum data signalled a roadblock to the country's broader economic recovery.
The blue-chip CSI300 index ended 0.6% lower at 4,953.88, after hitting a five-year high in the previous session. The Shanghai Composite Index shed 0.4%.
China's factory-gate prices fell at a sharper-than-expected pace in October, indicating tepid upstream demand for industrial goods despite a broader economic recovery.
Consumer inflation was also soft, easing to an 11-year low as pork prices snapped a year-and-a-half of steep increases that were fuelled by critical shortages of the popular meat.
Tech shares tracked weakness on the Nasdaq Composite overnight as companies that outperformed during the pandemic fell on news of the trial success of an experimental Covid-19 vaccine from Pfizer Inc.
The CSI info tech sub-index fell 1.7%, the start-up board ChiNext Composite index was weaker by 1.5% and Shanghai's tech-focused STAR50 index slumped 2.9%. -Reuters
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