China Export | China’s exports decline due to weakening global demand, down 12.4 percent in June

Representative Image Hong Kong: China’s exports decreased by 12.4 percent on an annual basis in June. China’s exports slumped as demand weakened after central banks around the world raised interest rates to curb inflation. According to customs data released in China on Thursday, imports declined by 6.8 percent. Weakness in foreign trade has increased the pressure on the world’s second largest economy. In January-June this year, China’s total trade, including imports and exports, declined by about five percent year-on-year. During this period, exports declined by 3.2 percent while imports decreased by 6.7 percent. Trade has also been affected by Washington’s spat with Beijing over security concerns and Chinese industrial policy. Sensex, Nifty hit all-time highs in early trade Mumbai: Major stock indices Sensex and Nifty hit their all-time highs in early trade on Thursday amid rally in global markets. Traders said encouraging macroeconomic data and buying in TCS led to gains in the market. During this period, the 30-share BSE Sensex rose 391.48 points to 65,785.38, while the NSE Nifty was up 111.3 points at 19,495.60. In later trade, Sensex touched its all-time high of 65,943.57 and Nifty touched its all-time high of 19,540.25. Tata Steel, TCS, M&M, Infosys, JSW Steel, Kotak Mahindra Bank, SBI and HDFC Bank were the major gainers in the Sensex pack. On the other hand, Power Grid, HCL Technologies, Asian Paints, Hindustan Unilever, Maruti and Nestle declined. Global oil benchmark Brent crude was up 0.45 per cent at USD 80.47 per barrel.

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