China Inflation Jump Won’t Derail Stocks Rally, BofA Says
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The jump in Chinese inflation last month is unlikely to derail a three-week rally in the nation’s equities, according to Shenyin & Wanguo Securities Co. and Bank of America-Merrill Lynch.
China’s consumer prices climbed to a three-year high of 6.4 percent in June, the statistics bureau said on July 9. That exceeded the previous month’s 5.5 percent and the government’s full-year target of 4 percent.