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US-China trade war and protests dent Hong Kong business conditions

Business conditions in Hong Kong deteriorated in June on concerns over the US-China trade war and as large-scale protests hit the city, according to a private survey.

The IHS Markit Hong Kong purchasing managers’ index showed nudged up to 47.9 in June from 46.9 in May, remaining in contraction territory under the 50-point level.

The survey found demand in the city’s private sector weakened last month with reports that orders were being held back because of US-China trade war and recent protests. Lower demand from mainland China meant orders fell at the fastest rate in three and a half years.

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