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BooBoo789
2023-10-13

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Hong Kong Stocks Snap Six-Day Winning Streak as Weak China Inflation Reports Undermine Bets on Recovery

Stock benchmark slips from a five-week high as bullish China bets take a knock following weak reports on producer, consumer prices in ChinaMarket is still on course for a 3 per cent gain for the week,

Hong Kong Stocks Snap Six-Day Winning Streak as Weak China Inflation Reports Undermine Bets on Recovery

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The Tech Index dropped 2.87 per cent.</p><p>Alibaba Group retreated 3.38 per cent to HK$82.95 and rival e-commerce platform operator JD.com slumped 11.38 per cent to HK$104.30. Meituan slipped 3.89 per cent to HK$113.80. Search engine operator Baidu sank 4.94 per cent to HK$125.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2c8d9a7f7f2c80f6f003b6b0dcc467ab\" tg-width=\"254\" tg-height=\"495\"/></p><p>Producer prices in mainland China dropped 2.5 per cent in September from a year earlier, capping a 12-month slide, the statistics bureau said on Friday. Economists had predicted a 2.4 per cent decline, versus a 3 per cent deflation in August. A separate report showed consumer prices were flat, versus consensus forecasts for a 0.2 per cent increase.</p><p>Other major Asian markets weakened. South Korea’s Kospi retreated 0.7 per cent and Australia’s S&amp;P/ASX 200 lost 0.3 per cent, while Japan’s Nikkei 225 slipped less than 0.1 per cent.</p></body></html>","source":"lsy1600132093512","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Hong Kong Stocks Snap Six-Day Winning Streak as Weak China Inflation Reports Undermine Bets on Recovery</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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The Tech Index dropped 2.87 per cent.Alibaba Group retreated 3.38 per cent to HK$82.95 and rival e-commerce platform operator JD.com slumped 11.38 per cent to HK$104.30. Meituan slipped 3.89 per cent to HK$113.80. Search engine operator Baidu sank 4.94 per cent to HK$125.Producer prices in mainland China dropped 2.5 per cent in September from a year earlier, capping a 12-month slide, the statistics bureau said on Friday. Economists had predicted a 2.4 per cent decline, versus a 3 per cent deflation in August. A separate report showed consumer prices were flat, versus consensus forecasts for a 0.2 per cent increase.Other major Asian markets weakened. 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