HONG KONG: Hong Kong rose on Monday (Jul 10) in hopes that Beijing has ended its long-running crackdown on the tech sector, but an early Asia-wide rally was staunched by inflation data showing further weakne
showing further weakness in China's economy.
However, analysts said that while the figures were big, traders were cheered by the prospect that the firms could again concentrate on their business. That was when the Alibaba affiliate tried to launch an initial public offering in Hong Kong that was thwarted by China. "The dreaded fear of a deflationary spiral in China has reached 'code red' where the latest consumer inflation rate for June has flattened," said OANDA's Kelvin Wong.
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