"Although Hong Kong is trying to heal, struggling global markets will be a drag. "Given today's data, there is higher risk for China to miss the growth target of 6.5 percent y/y in Q2," ANZ wrote in a research note.Shares fell across the board in China and Hong Kong. The benchmark Hang Seng index dropped 2.5 percent.In June 2015, China's "Great China Bubble" burst, triggered by the destruction of margin trades, and sending shockwaves across global financial markets. Industrial output and retail sales data were not encouraging either. "One year after the crash, China's stocks, bonds , property and currency are still expensive," wrote Hong Hao , chief strategist of BOCOM International.He added that the Shanghai index was still roughly 17 percent above the theoretical support level of 2,500 even after almost halving from last summer's peak.

Source: Economic Times June 13, 2016 07:47 UTC