Jun 15, 2024 06:25 PM
ECONOMY
China’s Premium Brands Fall Out of Favor With Stock Investors
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(Bloomberg) — China’s once-mighty shoppers have turned into reluctant spenders in the face of an economic slowdown, a shift that’s proving particularly painful for stocks related to premium brands.
High-end liquor maker Kweichow Moutai Co., luxury car dealer Zhongsheng Group Holdings Ltd. and Nike distributor Topsports International Holdings Ltd. have all fallen around 10% or more this year, bucking gains in equity benchmarks.
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