China slowdown hits high fashion and miners

CONCERNS of a continuing slowdown in China hit shares of a wide and diverse range of major global firms yesterday, from high fashion chains to huge mining companies. Shares of Italian fashion brand Prada fell to their lowest in 26 months during trading yesterday on fears of weaker consumer demand growth in China, a key market for Prada. Huge mining firms such as Rio Tinto and BHP Billiton also saw shares hit yesterday as commodity prices fell on doubts Chinese industrial demand will keep pace, with Chinese manufacturing data due out today.