China shares close up

China shares closed higher on Wednesday, shrugging off weaker-than-expected inflation data as investors bought into airlines, brokerages and pharmaceutical companies. The Shanghai Composite Index ended up 0.6 per cent at 2,374.3 points. The CSI300 of the leading Shanghai and Shenzhen A-share listings rose 0.7 per cent. China's producer price index in September fell 1.8 per cent from a year earlier, versus a 1.6 per cent fall expected by analysts. It was the 31st consecutive monthly decline, highlighting the pressures that Chinese companies are facing as demand cools and putting increasing strain on their finances. Analysts said they expect continued pressure on company profit margins in the third quarter, according to Reuters.