SHANGHAI: The Chinese stock market yesterday reacted calmly to the June inflation figure that was at the high end of most expectations.

The benchmark Shanghai Composite Index shed 17.12 points, or 0.44 percent, to close at 3912.94 points, with 372 companies out of 673 companies closing higher. Turnover on the bourse dropped by 17.5 billion yuan to 63.7 billion yuan from the previous trading day.

Analysts said the market calm indicated that investors have largely discounted the impact from a consumer price index (CPI) rise.