China consumer stocks soar 65% as defensive ploys pay
Staples are seen as more resilient to any economic fallout from the country's deleveraging campaign
Hong Kong
IN MOST stock markets, consumer staples are a refuge from the hype. In China, they're up 65 per cent this year and everyone wants in.
An index of Kweichow Moutai Co, Yonghui Superstores Co and peers has jumped 13 per cent in the past month alone, taking it to a record relative to the broader CSI 300 Index. A similar pattern is happening for stocks listed in Hong Kong, where the MSCI China Consumer Staples Index is near its highest in two years.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
Restaurant Brands tops estimates as Burger King overhaul pays off
Walmart to shut all health centers in US over lack of profitability
Coca-Cola raises annual sales forecast on global demand, higher prices
Dying salmon trouble Norway’s vast fish-farm industry
Fast-fashion giant Shein wants to sell skincare, toothpaste and toys, too
Billionaire Geiger is said to near US$7 billion L’Occitane buyout