China’s annual inflation rate rose from 0.1% to 0.3% in April. The upward trend in consumer prices signaled a pickup in demand-driven inflationary pressures. A pullback in consumer spending could reintroduce deflationary pressures.
The Hang Seng Index Reaction to the China Data
Before the economic indicators from China, the Hang Seng Index was up 0.95%.
However, in response to the numbers from China, the Hang Seng Index fell by 0.52% within five minutes of the data release.
Sub-indexes also felt the effects of the mixed data. The Hang Seng Mainland Properties Index (HSMPI) and the Hang Seng Tech Index (HSTECH) declined by 1.18% and 0.70%, respectively, within five minutes of the numbers.
However, the Hang Seng Index was up 0.50% to 19,474 on Friday despite the market reaction to the numbers.
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