From Google: 2024-08-07 00:42:18

China’s stocks rise slightly as new data reveals a significant increase in imports. The Shanghai Composite Index saw a 0.1% increase, while the blue-chip CSI300 index fell by 0.1%. The reported import growth of 38.1% in US dollar terms is due to rising commodity prices and strong demand.

The Hang Seng Index in Hong Kong also experienced gains, rising by 0.3%. This increase was primarily driven by the newly released data showing an 11.6% surge in China’s imports. Analysts attribute this growth to the global economic recovery and increased commodity prices. The Hang Seng TECH Index saw a 0.5% increase as well.

Despite the positive import growth figures, concerns remain about inflation and the impact on global supply chains. A surge in shipping costs has resulted in higher consumer prices, affecting businesses worldwide. Economists caution that ongoing inflation pressures could complicate central banks’ efforts to stimulate economic recovery post-pandemic.



Read more at Google: China stocks edge up as data shows strong import growth – XM