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Hang Seng Index falls to three-month low. Beverage stocks are under pressure. Netease rebounds against market trend.
The rise of the yen against the US dollar by 0.6% has attracted market attention to an increase in global arbitrage trade closures. The Hang Seng Index continued to decline today to a three-month low.
Cooling demand for luxury goods? LVMH's sales growth slowed in the second quarter, but a large number of tourists are going to Japan for "explosive buying".
Amidst slowing global demand for luxury goods, LVMH has also not been able to escape the problem of weak growth. Data shows that the company's demand in the Chinese market has declined, but at the same time, the company's sales in Japan have soared. The company believes that this is due to the substantial devaluation of the Japanese yen, which has led to many Chinese tourists turning to Japan for shopping.
Hong Kong stock market dynamics | Prada (01913) fell more than 6% at one point, while luxury goods group LVMH's net profit in the first half of the year fell 14% year-on-year.
Prada (01913) once fell more than 6%. As of press time, it fell 5.27% to HKD 52.1, with a turnover of 43.1321 million Hong Kong dollars.
Haitong Sec: The fashion consumer industry may form a market of over 10 trillion yuan, and the growth center is expected to achieve nearly 10% in the next five years.
Snack food is a "large industry + small companies." It is currently going through the fourth stage of channel transformation. Chinese and domestic snack brands are rising, and enterprises with multiple categories and supply chain capabilities will have better opportunities.
Edward Yau: There is still considerable room for growth in online sales in Hong Kong. The first "Hong Kong Goodies Festival" will be held next month.
Hong Kong Financial Secretary Paul Chan said that the value of online retail sales in Hong Kong's retail trade increased nearly 60% to HK$ 32.5 billion from 2020 to 2023 period.
Dah Sing Lyon lowered the target price of Prada (01913.HK) to 65 yuan and rated it 'outperforming the market'.
According to a report released by Lyon, Prada (01913.HK) will announce its interim performance on the 30th of this month. It is expected that second-quarter sales will increase by 12% year-on-year at fixed exchange rates, while retail sales of the Prada and Miu Miu brands are expected to increase by 5% and 60%, respectively, at fixed exchange rates. Classified by region, the bank expects the strongest performance in the Japan market. The bank expects the company's mid-term operating profit margin to improve by 20 basis points to 22.2% annually, benefiting from positive operating leverage, but partly offset by the impact of exchange rates and raw material costs on gross margin. The bank expects the company's operating leverage effect in the second half of the year to be more pronounced, with cost optimization and resilient sales bringing about further improvement.
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