LONDON : European luxury stocks were the top decliners in London, Paris and Milan on Wednesday after data showed China's factory inflation jumped in October, heightening stagflation concerns in the country, a top buyer of high-end products.
China's factory gate inflation hit a 26-year high in October, squeezing profit margins for producers and boosting growth concerns in the world's second-largest economy. The European luxury sector slumped 15per cent from August to October after China announced plans to redistribute wealth, interrupting a whopping 140per cent rise from March 2020 to August 2021.
हमने इस समाचार को संक्षेप में प्रस्तुत किया है ताकि आप इसे तुरंत पढ़ सकें। यदि आप समाचार में रुचि रखते हैं, तो आप पूरा पाठ यहां पढ़ सकते हैं। और पढो: