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Vipshop (VIPS) Stock Down as China Markets Slide

NEW YORK (TheStreet) -- Vipshop (VIPS - Get Report) stock is sinking by 3.09% to $17.54 in midday trading on Wednesday, as Asian markets decline again today on deflation concerns.

Based in Guangzhou, China, Vipshop operates as an online discount retailer for brands in China.

The Shanghai Composite Index fell 0.9% on inflation and factory-gate prices data that indicate weakness in the country's economy, according to Bloomberg.

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The consumer-price index rose 1.6% in September, down from a 2% jump in August, while the producer-price index decreased 5.9% in a 43rd consecutive month of declines, Bloomberg reports.

"The cautionary element in the market is likely to continue," Chris Green, a strategist at First NZ Capital, told Bloomberg. "In terms of global growth, the risk is skewed towards the downside. A softer read on the Chinese inflation data reinforces the backdrop of deflationary pressures and a softer growth profile...