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Last Updated : Sep 10, 2015 08:53 AM IST | Source: CNBC-TV18

Asian shares off day's lows as Nikkei trims losses

Asian shares declined early Thursday, as investors digest the data releases that could provide a gauge on the state of China's economy.


Asian shares declined early Thursday, as investors digest the data releases that could provide a gauge on the state of China's economy.

China's consumer price index (CPI) rose 2 percent in August from a year earlier, beating expectations for a 1.8 percent gain and up from 1.6 percent in July.

"Food prices have been rising so CPI will see a slight increase, but if you look at energy [and] housing costs, they are still quite low so overall the inflation environment in China is still quite weak," Alaistair Chan, economist at Moody's Analytics, told CNBC ahead of the data release.

The mainland's producer price index (PPI) – a gauge of factory-gate prices- declined 5.9 percent, compared with an expected 5.5 percent drop and after a 5.4 percent decline in the previous month. This marks the 42nd consecutive month of declines.

Overnight, major US averages ended the day down more than 1 percent, failing to extend a rally in global markets on the back of selling pressure in Apple and energy-related counters. The blue-chip Dow and the S&P 500 lost 1.45 and 1.35 percent, respectively, while the Nasdaq Composite closed down 1.15 percent.

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First Published on Sep 10, 2015 07:38 am
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