Hong Kong, China shares rise, recover from wobble after inflation data
HONG KONG Aug 9 (Reuters) - Hong Kong and China shares rose on Friday, despite a slight wobble after data showed consumer inflation in the world's second-largest economy held steady in July from June, while producer price deflation eased.
More China data is expected at 0530 GMT, when Beijing is due to release numbers for July industrial output, retail sales and fixed asset investment.
Robust trade data on Thursday had raised hopes that China's economy may be stabilising after two years of slowing growth.
At 0203 GMT, the Hang Seng Index was up 0.4 percent, while the China Enterprises Index of the top Chinese listings was up 1.1 percent.
The Shanghai Composite Index rose 0.3 percent, while the CSI300 of the leading Shanghai and Shenzhen A-share listings gained 0.4 percent.
China Shenhua Energy jumped more than 4 percent in Hong Kong on signs that coal prices may finally rebound as independent power producers stock up on coal in the next few weeks before scheduled Daqin rail maintainence, traders said.
The official People's Daily reported on their website on Thursday that coal producers such as Jizhong Energy and Yanzhou Coal have started raising prices.
Shenhua H-shares are now set for a second-straight daily rise after sinking to a three-week low on Wednesday.
Snack maker Want Want China reversed early gains to fall about 1 percent after data showed food inflation jumped 5 percent in July from a year ago, sparking fears that could hurt the company's margins.
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