Hong Kong, mainland stocks inch up on data showing China’s consumption grew at faster clip than expected in June

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Hong Kong and mainland stocks closed a bit higher, as data showed China’s retail sales grew at a faster clip than expected in June and news indicated that Beijing’s national expansion of a medicine-pricing programme will not be as tough as pharmaceuticals feared.The Shanghai Composite Index closed up 0.4 per cent on Monday, at 2942.19, while the CSI 300 Index of large stocks traded in Shanghai and Shenzhen ended ahead 0.4 per cent at 3824.19.In Hong Kong, where pharmaceutical companies were the…

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