(Bloomberg) China’s once-mighty shoppers have turned into reluctant spenders in the face of an economic slowdown, a shift that’s proving particularly painful for stocks related to premium brands.Most Read from BloombergSouthwest Plane Plunged Within 400 Feet of Ocean Near HawaiiWells Fargo Fires Over a Dozen for ‘Simulation of Keyboard Activity’Yes, Everyone Really Is Sick a Lot More Often After CovidBump Stock Ban Tossed Out by Supreme Court in Gun-Rights WinTesla Investors Get Behind Musk’s
Nasdaq Composite and Standard and Poor s 500 close at all-time high newzealandstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newzealandstar.com Daily Mail and Mail on Sunday newspapers.
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The Hong Kong stock market has moved lower in three straight sessions, dropping more than 550 points or 3 percent along the way. The Hang Seng Index now sits just above the 17,930-point plateau although it's tipped to find traction on Thursday.