Reported 7 months ago
China's upscale brands like Kweichow Moutai Co. and luxury car dealer Zhongsheng Group Holdings Ltd. are experiencing a decline in stock performance due to a slowdown in consumer spending, with analysts attributing this to a shift towards more affordable products, skepticism about China's economic recovery, and weaknesses in premium brands' strategies. Foreign luxury labels are also struggling with sales in China, prompting hopes for revitalizing measures in the upcoming political event. Overall, premium brands are facing challenges as consumer stocks lag behind the market rebound, leading to a shift in investor preferences towards other sectors like semi-equipment and property.
Source: YAHOO