** China's blue-chip CSI300 Index and the Shanghai Composite Index both closed down 0.1%.
** Hong Kong's benchmark Hang Seng Index and the China Enterprises Index rose 0.8% each.
** China's consumer inflation in March was at its slowest since September 2021, suggesting persistent demand weakness and potential for further policy stimulus. The reading was also below a Reuters poll estimate.
** Meanwhile, producer deflation sped up, extending price
declines for a sixth straight month.
** China's March inflation print indicates the world's
second-largest economy is running a disinflation process,
analysts said.
** The disinflationary pressure reflected slow consumption
demand recovery amid a reopening and robust supply chain,
analysts at Mizuho said in a note.
** "Economic recovery is on track but not strong enough to
push up prices," said Zhiwei Zhang, president at Pinpoint Asset
Management. "There is room for fiscal and monetary policies to
boost growth further," he added.
** Analysts at Nomura concurred that they expect Beijing to step up policy support in the coming months as low inflation readings could provide Beijing with more room for stimulus.
** In China, the CSI Media Index continued its
rally and climbed 5.0%, while consumer staples and food
and beverage shares slumped 1.3% and 1.8%,
respectively.
** Back from Easter holidays, property stocks traded in Hong
Kong rose 2.6%, with mainland property shares jumping 6.9%. Tech stocks closed up 0.3%, with Tencent down 2.3%.
(Reporting by Shanghai Newsroom; editing by Uttaresh
Venkateshwaran and Sonia Cheema)
