From South China Morning Post: 2024-07-10 01:08:52

Hong Kong stocks rebounded as China’s weak inflation data hinted at potential policy adjustments to stimulate domestic demand. The Hang Seng Index rose 0.3%, bouncing back from a three-month low. Consumer prices in China grew 0.2% in June, missing estimates, while producer prices slid 0.8% for the 21st consecutive month.
Baidu’s shares surged over 10% as its driverless taxis gained popularity in Wuhan, and reports emerged of Beijing supporting robotaxis in ride-hailing. Nongfu Spring and BYD also saw gains after positive news. Hong Kong stocks, down 10% since May, are seeking clarity on policy moves to tackle economic challenges.
Baidu, Nongfu Spring, and BYD stocks rose following positive developments. China Vanke faced a 1.8% drop after forecasting a potential first-half loss. Four companies began trading in Hong Kong and mainland exchanges, with mixed results. Asian markets overall were weaker, with South Korea, Japan, and Australia reporting losses.



Read more at South China Morning Post: Hong Kong stocks rebound from near 3-month lows as inflation data sparks policy boost hopes