China stocks fall as US inflation fuels more aggressive rate-hike bets SHANGHAI: China stocks on Wednesday tracked a slump in global markets, after hotter-than-expected US inflation data fuelled bets for more aggressive rate hikes by the Federal Reserve. ** The blue-chip CSI 300 Index lost 1.2% by the end of the morning session, while the Shanghai Composite Index was down 1%. ** The Hang Seng Index tumbled 2.6%, and the Hang Seng China Enterprises Index dropped 2.5%. ** Other Asian shares tumbled after Wall Street saw its steepest fall in two years, as US CPI data for August dashed hopes for a peak in inflation. ** US Labor Department data showed the headline Consumer Price Index gained 0.1% on a monthly basis versus expectations for a 0.1% decline. ** “The overnight plunge in the US market dented sentiment in China’s A-shares,” said Wang Mengying, a stock index futures analyst at Nanhua Futures, adding that investors will continue to focus on domestic COVID-19 outbreaks and anti-virus measures, and the implementation of pro-growth policies. ** New energy shares slumped 2.2%, automobiles went down 2%, while shares in healthcare and consumer discretionary lost 1.2% and 1.6%, respectively.