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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.
Midday Market Recap: Three major indices narrow their losses, electric vehicle stocks falling, xpeng down more than 5%.
The Hang Seng Index fell by 0.2%, the GEM index fell by 0.67%, and the State-owned Enterprise Index fell by 0.15%; the three major Chinese oil companies rose, China National Offshore Oil Corporation rose nearly 2%; beverage stocks weakened, nongfu spring fell more than 5%; ASMPT fell more than 15% due to poor mid-term performance.
Zhang Kun's latest quarterly report "Lingchen" made its debut: the current valuation is "too low", and the market should be worried about high-quality companies being privatized.
This season, he expressed his dissatisfaction with the current bearish expectations in the market with strong and direct language.
Global top five luxury goods tycoons' wealth evaporated by 17 billion US dollars this year! The founder of LV dropped from the top of the rich list.
In contrast, the wealth of the other people on the world's top 500 rich list increased by 1 trillion dollars or 13% during the same period, creating the largest gap since May 2022. The luxury goods industry is being impacted by the macroeconomic slowdown in major economies around the world, as well as concerns over geopolitical issues, and the political deadlock in France is creating additional challenges.
CICC: Hong Kong's external demand continued to improve in the first quarter, but the real estate market is difficult to see a major turning point in the cycle.
The high interest rate environment continues to put pressure on the payment ability of local enterprises and residents in Hong Kong.
Two major bullish news suddenly broke out in Hong Kong!
As the July 1st approaches, bullish rumors about Hong Kong are frequent!
Samsonite International Goes Ex Dividend Tomorrow
Hong Kong Stock Afternoon Review | The three major indices strengthened, rising more than 4% after Tencent's results; domestic housing stocks and domestic bank stocks improved, COSCO Group rose nearly 49%, and CCB rose more than 5%
Technet stocks had mixed ups and downs. Tencent rose more than 4%, Ali fell more than 2%; insurance stocks strengthened, China Taiping rose more than 6%, and Ping An of China rose nearly 6%.
Samsonite International Reports Q1 Results
Zhang Kun's quarterly report results released: oil stocks rose to the top heavy stock, reduced Maotai's positions, and increased Ali's holdings
Zhang Kun emphasized that long-term growth is the core of high-quality stocks, and encouraged investors to seek investment opportunities with the potential for continued growth.
Exploring Hong Kong's Food and Beverage Retailing Industry! Merchants face difficult challenges, and the industry suggests embracing high technology
Since 2023, Hong Kong residents have set off a “Shenzhen fever”. However, in stark contrast to this heatwave, Hong Kong, which used to be a “shopping paradise” for mainland people, is slightly inferior in the consumer market.
A quick overview of the Hong Kong market | Meituan fell nearly 4%; copper stocks collectively rallied in the afternoon, and China's non-ferrous mining industry rose nearly 4%
Technology Network stocks generally fell, with Bilibili falling by more than 5%; auto stocks narrowed in the afternoon, with NIO falling nearly 4%; CRO concept stocks continued to weaken, with Pharmacoming Biotech falling more than 10%, and Pharmaceutical Kangde falling nearly 9%.
Featured announcements | Tourover's adjusted net profit last year was 481 million yuan, turning a year-on-year loss into a profit
Weibo's net profit in 2023 was US$342.6 million, up 300.4% year on year; China Shenhua: coal sales volume in the first 2 months was 77.1 million tons, up 12.7% year on year; Ping An of China: Total original premium income for the first two months was about 192,819 billion yuan.
Samsonite International Reports Q4 Results
A quick look at the Hong Kong market | CRO concept stocks had mixed ups and downs. Tiger Pharmaceuticals rose more than 20%, and Pharmaceutical Biotech fell more than 13%
Technology Network stocks collectively declined, with Bilibili falling nearly 4%; most auto stocks weakened; Xiaopeng fell nearly 6%, and NIO fell nearly 5%; gold stocks rose against the market, and China Gold International rose more than 6%.
Featured announcements | AIA's net profit increased 13% year on year; Samsonite's net profit increased by more than 30% year on year last year
China Metallurgical: The amount of new contracts signed in the first 2 months was 195.41 billion yuan, an increase of 0.4% over the previous year; Zhongan Online: The total amount of original insurance premium income in the first 2 months was about 4,543 billion yuan, an increase of 15.89% over the previous year.
Prada S.p.A. UNSP ADR EACH REPR 2 ORD Reports FY Results
Hong Kong Stock Afternoon Review | The trend of the three major indices fluctuated, auto stocks collectively pulled back, and Ideal Auto fell nearly 13%; pharmaceutical stocks rose sharply, and Pharmaceutical Biotech rose more than 11%
Domestic housing stocks and property management stocks diverged. Vanke Enterprise fell more than 6%, China Resources Land fell more than 5%, and Xuhui Holding Group rose more than 13%; gold stocks were popular, Zhaojin Mining rose more than 4%, and Shandong Gold rose nearly 4%; coal stocks rose one after another, with Yankuang Energy up more than 4%, and Yancoal Australia rising more than 3%.
Overview of the Hong Kong market | Science Index fell more than 2%, NetEase reversed the market and rose more than 4%; semiconductor stocks pulled back, and SMIC fell nearly 5%
Technet stocks generally fell, with Meituan falling more than 4%, Bilibili and Tencent falling about 3%; auto stocks declined one after another, with Xiaopeng Motors falling more than 5% and Great Wall Motors falling more than 4%; sporting goods stocks plummeted, with Li Ning falling nearly 6%, Anta Sports falling nearly 5%, and Special Step International falling more than 2%.
Hong Kong Stock Afternoon Review | The three major indices fell slightly, and game stocks were popular. NetEase rose more than 5%; auto stocks had mixed ups and downs, and Ideal Auto rose nearly 4%
Domestic housing stocks and property management stocks weakened collectively. Country Garden fell more than 12%, and Sunac China fell more than 6%; sporting goods stocks fell sharply, with Anta Sports and Li Ning falling nearly 4%, and Teb International falling nearly 1%; semiconductor stocks declined one after another, with Fudan in Shanghai falling nearly 8%, and Huahong Semiconductor falling nearly 4%.