Sinopec falls after Beijing says to curb fuel price rise

HONG KONG, Jan 10 (Reuters) - Shares in Sinopec (0386.HK) (600028.SS), Asia's largest oil refiner, fell nearly 5 percent on Thursday after Chinese Premier Wen Jiabao said there should be no immediate increase of oil product prices.

China is still facing fairly large inflationary pressures and will temporarily intervene in the market to stabilise prices for basic necessities, the country's cabinet said.

Wen chaired a cabinet meeting that also concluded that Beijing should not immediately increase prices of energy products, including oil, power and natural gas, which are capped by the government.

China is currently facing the worst consumer inflation in 11 years, driven largely by soaring food prices.

Share in PetroChina (0857.HK), the country's second-largest oil refinery, fell nearly 1 percent on Thursday. (Reporting by Judy Hua; Editing by Anne Marie Roantree)