Asian shares mixed as China reports jump in inflation

Asian shares are mixed after China reported a big jump in factory gate prices at a time when inflation is a top investor concern

Asian shares were mixed on Wednesday after China reported a big jump in factory gate prices at a time when inflation is a top investor concern. Shares fell in Tokyo, Seoul, Sydney and Hong Kong but rose in Shanghai China's producer price index, which measures prices of raw goods and services, jumped 9% from a year earlier in May, the fastest increase since 2008, during the global financial crisis, and above analysts' forecasts, the government said. However, the headline consumer price index rose a more modest 1.3%, lower than expected. Inflation in the first five months of the year averaged 0.4%.