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Mainland CN CPI Drop Exceeds Forecast; HK-listed New Consumer Stocks Outrun; MIXUE Once Up ~8%; POP MART/ MAO GEPING/ LAOPU GOLD Leap 4-6%
Recommend 25 Positive 41 Negative 18 |
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Mainland China's CPI faded 0.3% YoY in September, more than the market expectations of a 0.2% decline. Arresting a seven-day losing streak, the HSI rebounded this morning (15th) by opening 273 points or 1.1% higher at 25,714. The early session saw gains expand to 429 points, bringing the index to the peak of 25,870. Yet, the gains narrowed on a softening in A-shares at high levels. The HSI last traded at 25,773, up 332 points or about 1.3%, with a turnover of approximately HKD151.1 billion. Chinese Premier Li Qiang recently emphasized the need to continuously expand domestic demand and create new growth points for expanding domestic demand. New consumer stocks outperformed the market this morning, with MIXUE GROUP (02097.HK) last at HKD444, up 6.58%, with a turnover of HKD482 million. POP MART (09992.HK) last posted at HKD273.8, up 4.11%, with a turnover of HKD2.52 billion. Apple (AAPL.US) CEO Tim Cook reportedly appeared at the Labubu themed exhibition in Shanghai the day before yesterday (13th) and interacted with Pop Mart Chairman and CEO Wang Ning and Labubu designer Kasing Lung. LAOPU GOLD (06181.HK) last printed at HKD737.5, up 6.42%, with a turnover of HKD1.491 billion. JPMorgan noted that the brand value of LAOPU GOLD was on an evident uptrend, predicting that retail sales will remain strong, reaffirming an Overweight rating on the stock and listing it as one of the top picks in China's consumer sector. Mainland cosmetics brand MAO GEPING (01318.HK) last stood at HKD102.6, up 4.91%, with a turnover of HKD104 million. AASTOCKS Financial News Website: www.aastocks.com |
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