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Chinese markets on Monday fell after the release of inflation data for March and statistics on the coronavirus. At the closure of trading, the CSI 300 index (tracks the shares of the largest companies in China) fell by 3%, the Shanghai Exchange index lost 2.61%, Hong Kong Index Hang Seng - 3%.
Sales of investors responded to inflation data in China for March, which exceeded expectations, writes CNBC. Producer price index in China (displays a change in the wholesale prices of producers of goods and services) in March grew by 8.3% in annual terms.
In March, the rise in prices slowed down after in February it amounted to 8.8%, but it turned out to be higher than 7.9% forecasts, says Reuters with reference to the data of the National Bureau of Statistics (NBS). Such dynamics led to an increase in consumer prices: they grew by 1.5% in annual terms, demonstrating the fastest growth in three months and exceeding forecasts in 1.2%. In February, inflation in China was at the level of 0.9%, Reuters notes.
As for prices in the second half of the year, there may be a pressure of probable delays in crops from crops due to local outbreaks of COVID-19 in China and Russia’s aggression in Ukraine, Nomura analysts suggest.
source: reuters.com, cnbc.com
Sales of investors responded to inflation data in China for March, which exceeded expectations, writes CNBC. Producer price index in China (displays a change in the wholesale prices of producers of goods and services) in March grew by 8.3% in annual terms.
In March, the rise in prices slowed down after in February it amounted to 8.8%, but it turned out to be higher than 7.9% forecasts, says Reuters with reference to the data of the National Bureau of Statistics (NBS). Such dynamics led to an increase in consumer prices: they grew by 1.5% in annual terms, demonstrating the fastest growth in three months and exceeding forecasts in 1.2%. In February, inflation in China was at the level of 0.9%, Reuters notes.
As for prices in the second half of the year, there may be a pressure of probable delays in crops from crops due to local outbreaks of COVID-19 in China and Russia’s aggression in Ukraine, Nomura analysts suggest.
source: reuters.com, cnbc.com