Chinese shares close up 0.37 percent

Chinese share prices closed 0.37 percent higher Monday but investors were anxiously waiting for developments after a powerful earthquake rocked the country's southwest, dealers said.

The temblor had a magnitude of 7.5, the US Geological Survey said. It shook buildings in Beijing and was felt as far away as Taipei and Hong Kong.

The benchmark Shanghai Composite Index, which covers A and B shares, closed up 13.49 points at 3,626.98, off a high of 3,668.86.

Turnover fell to 116.69 billion yuan (16.7 billion US) from 128.93 billion in the previous session.

The shallow quake struck 93 kilometres (58 miles) from Chengdu, capital of Sichuan province, shortly before 2.30 pm (0630 GMT), the survey said. The city is a major population centre with more than 10 million people.

Before the earthquake, investors were digesting official figures showing annual inflation rose to 8.5 percent in April, with soaring food costs a major driver.

The Shanghai A-share Index rose 14.23 points or 0.38 percent to 3,805.75. The Shenzhen A-share Index was up 15.67 points or 1.36 percent at 1,168.28.

(Agencies)