April 9, 2013 / 7:13 AM / 5 years ago

China's CSI300 index produces first gain in seven days

HONG KONG, April 9 (Reuters) - China shares posted their first gain in about a week in tepid Tuesday trade, led by strength in growth-sensitive sectors as tightening concerns eased after data showed March inflation was weaker than expected.

The CSI300 of the leading Shanghai and Shenzhen A-share listings closed up 0.7 percent, its first gain in seven days. The Shanghai Composite Index had its first gain in five days, climbing 0.6 percent to 2,225.8 to barely close above its 100-day moving average at about 2,223.9.

Annual consumer inflation eased to 2.1 percent in March, compared with a 2.4 percent Reuters consensus and February’s 3.2 percent. Producer price deflation deepened, dropping 1.9 percent in March, versus a 1.8 percent consensus and February’s 1.6 percent annual drop. (Reporting by Clement Tan; Editing by Richard Borsuk)

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