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Chinese Shares Close 1.02% Higher

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Chinese shares edged up 1.02 percent on Wednesday as the country's May CPI and PPI data show an economic recovery, said market dealers.

The benchmark Shanghai Composite Index rose 1.02 percent, or 28.36 points, to close at 2,816.25. The Shenzhen Component Index was up 0.75 percent, or 80.65 points, to 10,820.74.

Combined turnover rose to 219.82 billion yuan (US$32 billion) from 206.28 billion yuan the previous trading day.

Gainers led losers by 589 to 212 in Shanghai and 482 to 205 in Shenzhen.

Figures from the National Bureau of Statistics show, China's May producer price index (PPI), fell 7.2 percent year on year, while the consumer price index (CPI), fell 1.4 percent during the same period.

(Xinhua News Agency June 10, 2009)

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