March 20, 2012 / 7:12 AM / 5 years ago

China shares end down 1.4 pct on inflation concerns

SHANGHAI, March 20 (Reuters) - China shares ended down 1.4 percent on Tuesday on worries over a rebound in domestic inflation after China raised retail gasoline and diesel prices.

The Shanghai Composite Index ended at 2,376.8 points, after rising 0.2 percent on Monday.

China raised retail gasoline and diesel prices by between 6 and 7 percent from Tuesday, marking the biggest increase in 33 months, a move that will help refiners reduce heavy losses but is unlikely to hit demand in a big way.

Shanghai Pudong Development Bank led banking shares down after Citigroup sold its entire stake in the Chinese lender, booking a profit of around $349 million. ($1 = 6.32 yuan) (Reporting by Chen Yixin and Jacqueline Wong)

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