China Stocks Open Higher as August Inflation Accelerates From Recent Lows

MT Newswires Live09:56

Chinese shares opened higher on Wednesday, as newly released August inflation data showed consumer and factory-gate prices accelerating from recent lows.

The Shanghai Composite Index, the main gauge of Chinese stocks, opened 0.1% higher at 3,943.92. The Shenzhen Component Index climbed 0.6% to 13,788.94.

China's annual consumer inflation sped up to 0.8% in August, in line with the consensus forecast of 0.8% tracked by Investing.com and higher than the six-month low of 0.5% recorded in July.

Annual producer price inflation rose to 3.8% in August, higher than the consensus forecast of 3.6% and the three-month low of 3.5% recorded in July.

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