China shares extended their rally on Wednesday to close at the highest in seven weeks, climbing for a nine straight session, led by banking and consumer stocks.
China’s producer prices rose at their slowest pace in 13 months in December, as the government’s war against winter smog dented factory demand for raw materials. The country’s consumer inflation accelerated less than expected to 1.8 percent in December from 1.7 percent previously.
At the close, the Shanghai Composite index was up 8.24 points or 0.24 percent at 3,422.14. The blue-chip CSI300 index was up 0.45 percent, with its financial sector sub-index higher by 0.83 percent, the consumer staples sector up 1.28 percent, the real estate index up 0.17 percent and healthcare sub-index down 0.28 percent.
Source : Reuters