FT News Briefing Hong Kong’s bull run leaves China in the dust
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Jul 2, 2025 In the latest discussion, Hong Kong's stock market is on fire, outperforming mainland China amid investor interest in tech giants. The impact of ongoing trade tensions and the shifting landscape for IPOs are examined closely. Meanwhile, Eurozone inflation reaches 2%, prompting discussions about economic recovery. France's strategic move toward rare earth self-sufficiency is highlighted, exploring its significance in technology supply chains and the challenges posed by China’s current dominance.
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Hong Kong Outperforms Mainland China
- Hong Kong's stock market is booming due to Chinese investors seeking exposure to tech companies unavailable on the mainland.
- Mainland China's economic recovery is weak with deflation, poor consumer sentiment, and unresolved trade tensions impacting equities.
Trade Tensions Affect Markets Differently
- Hong Kong benefits as an intermediary between China and the U.S. amid trade tensions.
- Mainland China's market suffers from direct impacts of trade disputes, damping investor sentiment.
Eurozone Inflation Hits ECB Target
- Eurozone inflation reached 2% in June, meeting the ECB's medium-term target.
- Economists expect the ECB to likely hold interest rates steady in the upcoming meeting.