China stocks hit by profit-taking, inflation data has little impact
SHANGHAI Oct 14 (Reuters) - China stocks slipped on Wednesday, which analysts said appeared to reflect profit-taking after strong recent gains.
The mainland markets were not significantly impacted by September inflation data showing the economy is still under deflationary pressure.
China's consumer price index (CPI) rose 1.6 percent in September from a year earlier, lower than expected, while producer prices extended their slide to a 43rd straight month.
In the afternoon, stocks fell across the board. There was a net outflow in the northbound leg of the Shanghai-Hong Kong Stock Connect scheme, in contrast to inflows in previous sessions.
The CSI300 index of the largest listed companies in Shanghai and Shenzhen fell 1.1 percent, to 3,406.11, while the Shanghai Composite Index lost 1.0 percent, to 3,262.44 points.
The indexes had gained roughly 8 percent during the past four trading sessions.
Total volume of A shares traded in Shanghai was 25.3 billion shares, while Shenzhen volume was 26.1 billion shares. (Reporting by Samuel Shen and Pete Sweeney; Editing by Richard Borsuk)
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