Gold Wuhua News | The CSI Consumer 360 index sector overall is under pressure, as of the time of writing, MENGNIU DAIRY (02319) is down 4.59%, CHINA RES BEER (00291) is down 4.13%, NONGFU SPRING (09633) is down 3.31%, and HAIDILAO (06862) is down 3.41%.
In terms of news, Guoyuan International's Research Reports indicate that the consumption market is sluggish in 2024, and the sector's fundamentals are generally under pressure. After the government's package of policies was introduced at the end of September, the market rebounded briefly before falling back. From the beginning of the year to now, the Hang Seng Select Consumer sector has declined by 13.39%, underperforming the Large Cap; the Hong Kong stock SHENWAN Food & Beverage index has cumulatively dropped by 3.79%, ranking 27th among the 31 first-level sectors.
The report continues to state that on December 9, the Central Political Bureau meeting will be held to analyze and study the economic work for 2025, providing more positive wording regarding overall requirements and macro policies. The meeting proposed to "vigorously boost consumption, increase investment returns, and comprehensively expand domestic demand." The report indicates that there is a lag in the transmission of policies to boost consumer confidence, and the sustainability of consumption recovery remains to be observed. According to Boston Consulting, although policy stimulation has somewhat boosted consumption in the short term, consumers still have concerns about their income expectations for the next six months, and savings continue to occupy an important position in consumer spending structure, with the expectation of continuing to rise.
