Chinese shares mixed after release of 12-year high inflation data

BEIJING, March 11 (Xinhua) -- Chinese share prices were mixed on Tuesday, as investors remained cautious after the release of the nearly 12-year high inflation data in February.

The benchmark Shanghai Composite Index edged up 19.58 points, or 0.47 percent, to 4,165.88. Bargain hunting pushed the index, which fell 2 percent at one time, up into positive territory in late afternoon trading. In spite of the first rise in three days, the index was still at its 7-1/2 month low.

The Shenzhen Component Index fell 47.33 points, or 0.32 percent, to 14,815.72. It tumbled 3.7 percent at one time before bargain hunting trimmed the losses in late trading.

BEIJING, March 11 (Xinhua) -- China's inflation rate has continued to accelerate, with the consumer price index (CPI) up 8.7 percent year-on-year in February, the biggest jump in nearly 12 years, the National Bureau of Statistics (NBS) said on Tuesday.

The main inflation indicator last month was second only to the figure recorded in May 1996, when it stood at 8.9 percent. It rose by an annual rate of 14.11 percent from 1992 to 1996.