Stock market shrugs off CPI woes

SHANGHAI: The Shanghai stock market climbed 1.49 percent yesterday, led by large-caps, despite concern over possible policies to dampen inflationary pressure after July's CPI figure was released.

Consumer price index (CPI) growth for July was 5.6 percent - the largest increase in 10 years.

Analysts said the CPI, which was within expectations, had already been absorbed by the market.