China: Shanghai rallies at open after inflation data

[HONG KONG] Shanghai stocks climbed in the first few minutes of trade on Monday after data showed Chinese inflation well above two per cent in March, easing concerns about deflation in the mainland economy.

The benchmark Shanghai Composite Index rose 0.74 per cent, or 21.95 points, to 3,006.91, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, gained 0.90 per cent, or 17.28 points, to 1,931.60.

But the Hang Seng Index in Hong Kong slipped 0.56 per cent, or 114.56 points, to 20,255.84.

AFP