New Consumption Concept Stocks in Hong Kong Sharply Decline, POP MART Falls Over 5%
Deep News
Oct 21
The new consumption concept stocks in Hong Kong have seen an expanded decline, with {"09992":{"name_zh":"泡泡玛特","name_en":"POP MART"}} and Gu Ming both dropping over 5%. Lao Pu Gold and Juzi Biotech fell nearly 4%, while Bruker and Mixue Group dropped more than 3%.
The National Bureau of Statistics has released data on the total retail sales of consumer goods from January to September 2025: the total for this period was 365.877 billion yuan (up 4.5% year-on-year). In September, the total retail sales reached 41.971 billion yuan, an increase of 3.0%, slightly below the Wind consensus estimate of 3.1%. By region, the year-on-year growth for urban and rural retail sales during this period was 4.4% and 4.6%, respectively. Kaiyuan Securities believes that overall social consumption remained robust in September, with discretionary consumption still outperforming essential goods, indicating ongoing structural differentiation and highlighting the potential for future consumption release.
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