Chinese shares closed moderately lower in the morning session on Wednesday, weighed by a series of economic data including the market-sensitive inflation and the hike of bank's reserve requirement ratio (RRR).
The benchmark Shanghai Composite Index lost 0.49 percent, or 13.24 points, to finish the morning session at 2,716.8.
The Shenzhen Component Index dipped 23.33 points, or 0.2 percent, to end at 11,708.71.
The National Bureau of Statistics released a series of economic data on Tuesday, with the Consumer Price Index (CPI), a main gauge of inflation, shooting to the highest level in nearly three years at 5.5 percent in May.
The central bank, the People's Bank of China, announced on Tuesday it would raise bank's reserve requirement ratio by 50 basis points starting June 20, the sixth hike this year, demanding major banks to keep a record high of 21.5 percent of their deposits in reserves to reduce lending amid efforts to cool the price rises.
Source:Xinhua
Weekly review
The benchmark Shanghai Composite Index lost 0.49 percent, or 13.24 points, to finish the morning session at 2,716.8.
The Shenzhen Component Index dipped 23.33 points, or 0.2 percent, to end at 11,708.71.
The National Bureau of Statistics released a series of economic data on Tuesday, with the Consumer Price Index (CPI), a main gauge of inflation, shooting to the highest level in nearly three years at 5.5 percent in May.
The central bank, the People's Bank of China, announced on Tuesday it would raise bank's reserve requirement ratio by 50 basis points starting June 20, the sixth hike this year, demanding major banks to keep a record high of 21.5 percent of their deposits in reserves to reduce lending amid efforts to cool the price rises.
Source:Xinhua
Weekly review
