Hong Kong July Bankruptcies Up 36 Percent Year Over Year

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Bankruptcy petitions in Hong Kong surged 36 percent in July from the same month a year ago, but the jump was lower than an 89 percent year-on-year rise in June as the economy picked up, government data showed on Friday. The territory recorded 1,475 bankruptcy petitions last month, down 9 percent from 1,619 in June and compared to 1,081 in July 2008, Reuters reported. Read more.