China's Cooking Oil Scandal Shakes Consumer Trust;Hong Kong Stocks Rebound Amid Inflation Data Hopes时长0:0:0

2024-07-10T07:13:10Z
节目标题:China’s Cooking Oil Scandal Shakes Consumer Trust;Hong Kong Stocks Rebound Amid Inflation Data Hopes
节目介绍:Welcome to our 《Hong Kong Brief》 program! Today, we have a mix of intriguing stories from China and Hong Kong that are sure to catch your attention. First up, China’s food safety is under the spotlight once again after a shocking report revealed that tankers used for transporting fuel and chemicals are also being used for cooking oil without proper cleaning. This scandal has led to an 8% drop in shares for a leading cooking oil supplier and prompted a government investigation. Consumers are increasingly turning to imported food as trust in local products wavers.

In financial news, Hong Kong stocks have made a notable rebound from their near three-month lows, thanks to sluggish inflation data from China that has fueled expectations for further stimulus measures. The Hang Seng Index rose by 0.7%, while the Hang Seng Tech Index saw a 1.5% rally. This uptick comes as China’s consumer prices saw a modest rise, missing market estimates, which has led to hopes for economic policy boosts.

Lastly, Uniqlo’s strategic focus on Europe is paying off handsomely. The Japanese retailer has opened flagship stores in major European cities, enjoying outstanding growth rates within the Fast Retailing group. With revenue per store in Europe significantly higher than in Japan and China, Uniqlo’s European expansion seems to be a winning strategy. Please stay tuned for more detailed coverage!

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