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China's stocks rise in morning trade

Xinhua | Updated: 2013-09-09 14:17

BEIJING -- Chinese stocks pulled higher in the morning session on Monday after official data showed the country's consumer inflation moderated in August.

The benchmark Shanghai Composite Index rose 3.03 percent to end the morning trade at 2,204.75. The Shenzhen Component Index climbed 2.74 percent to end at 8,507.32.

The country's consumer price index rose 2.6 percent year-on-year in August, slowing from July's 2.7-percent gain, while wholesale deflation also eased, according to data released by the National Bureau of Statistics.

The inflation data, following improving foreign trade figures released on Sunday, added to new evidence that the world's second-largest economy was stabilizing, analysts said.

Trading in shares of PetroChina, the listed arm of China National Petroleum Corporation, the nation's largest oil and gas producer that has been embroiled in an official investigation, was suspended on Monday as the company said in a one-sentence statement that it will clarify media reports without elaboration.

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