Global Market: Shanghai, Hong Kong stocks rise as consumer gains offset tech weakness

Synopsis Shanghai and Hong Kong stocks gained on Monday as consumer and property shares offset weakness in technology stocks. Investors assessed fresh Chinese inflation data, which pointed to persistent deflationary pressures, for clues on Beijing’s policy outlook. Expectations of fiscal support and resilient exports also shaped market sentiment. Shanghai and Hong Kong stocks rose on Monday, while China’s blue-chip index declined as gains in consumer and property shares were offset by a sell-off in technology stocks, with investors assessing fresh inflation data for clues on the country’s policy outlook, Reuters reported. The Shanghai Composite Index gained 0.2% by the midday…