BEIJING, May 11 — Chinese shares fell Wednesday after the release of inflation data that showed a 5.3 percent rise in April from a year earlier.
The benchmark Shanghai Composite Index dipped 0.25 percent, or 7.21 points, to 2,883.42.
The Shenzhen Component Index slipped 0.12 percent, or 14.32 points, to 12,202.62.
Combined turnover expanded to 180.26 billion yuan (27.78 billion U.S. dollars) from 159.9 billion yuan on the previous trading day.
Gainers outnumbered losers by 449 to 419 in Shanghai, while losers outnumbered gainers by 645 to 548 in Shenzhen.
China’s consumer price index (CPI), a main gauge of inflation, rose 5.3 percent in April from a year ago, the National Bureau of Statistics (NBS) said Wednesday.
The high-level CPI figure fueled investors’ worries over possible macro-economic control policies to be released over the weekend as there would be few remarkable changes in the market before the weekend, said GF Securities analyst Wan Bing.
Jiangxi Copper Co. fell 1.29 percent to 33.79 yuan per share. The Inner Mongolia Baotou Steel Union Co., Ltd. dropped 4.81 percent to 7.72 yuan per share.
SAIC Motor Corp., China’s largest automaker, slid 2.64 percent to 16.61 yuan per share after China’s car sales slowed down in April.
The Industrial and Commercial Bank of China Ltd., the nation’s biggest listed lender, shrank 0.66 percent to 4.54 yuan per share. China Everbright Bank, a medium-sized bank, went down 0.79 percent to 3.77 yuan per share.
PetroChina Co., the country’s largest oil producer, fell 0.18 percent to 11.18 yuan per share. Sinopec, the country’s largest oil refiner, slid 0.59 percent to 8.40 yuan per share.
In currencies, China’s yuan hit a new high against the United States Dollar (USD) at 6.4948 yuan to 1 USD on Wednesday.