* SSEC +0.3%, CSI300 +0.1%
* China May PPI +9% y/y, fastest pace in over 12 years
* State planner to step up monitoring of commodity prices
BEIJING, June 9 (Reuters) - China stocks ended higher on
Wednesday, driven by coal and resource firms, as investors
lapped up data that showed factory-gate prices in May saw their
fastest annual pace in more than 12 years, implying signs of
steady global economic recovery.
** At the close, the Shanghai Composite index was up
0.32% at 3,591.40, and the blue-chip CSI300 index was
** Leading the gains, the sub-index tracking energy firms
including coal miners rose 3.23% while the resource
sector sub-index gained 1.3%.
** Its consumer staples sector was up 0.6%, the
healthcare sub-index added 0.16%, while the real
estate index fell 0.94%.
** The smaller Shenzhen index ended up 0.14% and the
start-up board ChiNext Composite index was steady.
** China's factory gate prices in May rose at their fastest
annual pace in over 12 years, driven by surging commodity
prices, highlighting global inflation pressures at a time when
policymakers are trying to revitalise COVID-hit growth.
** The release comes as U.S. inflation data on Thursday is being
closely watched by investors, who worry another high reading
might put pressure on the Federal Reserve to start thinking
about tapering its stimulus.
** Though China's producer price index (PPI) would likely peak
soon, concerns remain that PPI may hover at an elevated level
for an extended period of time, said Nie Wen, chief economist at
** China's state planner said on Wednesday it will step up
monitoring of commodity prices and commodity market supervision
to maintain order in the market.
** The U.S. Senate passed on Tuesday a sweeping package of
legislation intended to boost the country's ability to compete
with Chinese technology.
** Around the region, MSCI's Asia ex-Japan stock index
was weaker by 0.3%, while Japan's Nikkei index
closed 0.35% lower.
** At 0735 GMT, the yuan was quoted at 6.3926 per
U.S. dollar, 0.13% firmer than the previous close of 6.401.
(Reporting by Beijing Newsroom, Editing by Sherry