Hong Kong: Shares close 0.94% lower

[HONG KONG] Hong Kong shares tumbled 0.94 per cent on Tuesday as a rebound in Chinese inflation in February was trumped by data showing prices at factory gates had plunged, raising fears about deflation in the mainland economy.

The benchmark Hang Seng Index fell 226.07 points to 23,896.98 on turnover of HK$76.91 billion.

In mainland China the benchmark Shanghai Composite Index fell 0.49 per cent, or 16.34 points, to 3,286.07 on turnover of 330.0 billion yuan.

But the Shenzhen Composite Index, which tracks stocks on China's second exchange, rose 1.19 per cent, or 19.91 points, to 1,691.98 on turnover of 312.4 billion yuan.

AFP