Major indexes posted broad-based gains, with the ChiNext Index climbing over 1% and nearly 4,000 stocks advancing. The rally was spearheaded by consumer discretionary and resource sectors—jewelry, beauty care, and food & beverage stocks surged alongside battery and small metal plays. Only aviation, logistics, and aerospace sectors bucked the upward trend, reflecting shifting investor preferences toward domestic consumption and new energy materials.
Hong Kong-listed consumer brands Pop Mart, Mixue Bingcheng, and Laopu Gold have emerged as market darlings, with their stellar year-to-date performances earning them the nickname “Three Golden Flowers of Hong Kong Stocks.” This trend underscores capital’s growing appetite for new consumption models, as investors bet on companies tapping into China’s evolving consumer behavior. Brokerages remain bullish, with Huatai Securities forecasting sustained consumption recovery, CICC highlighting policy-driven “new quality domestic demand,” and Xiangcai noting the sector’s compelling valuations.
The divergent sector performance reveals two key investment themes: the resurgence of consumer stocks as economic sentiment improves, and continued confidence in China’s strategic industries like batteries and energy metals. As consumer companies redefine retail through IP-driven products (Pop Mart), affordable luxuries (Laopu Gold), and experiential offerings (Mixue), they’re attracting capital traditionally allocated to traditional industries. This rotation suggests markets are rewarding firms aligned with China’s dual goals of consumption upgrade and technological self-sufficiency.
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