Stock Track | CTG DUTY-FREE Shares Soar as JPMorgan Boosts Stake

Stock Track10-02

Shares of China Tourism Group Duty Free Corp. (CTG DUTY-FREE) surged 8.9% on Tuesday, outperforming the broader market, after it was revealed that JPMorgan Chase & Co. had increased its long position in the company's H-shares.

According to a filing with the Hong Kong Stock Exchange, JPMorgan increased its stake in CTG DUTY-FREE to 9.22% as of September 26, up from 8.58% previously. The move by the prominent Wall Street bank and asset manager signals growing confidence in the prospects of the Chinese travel retailer.

CTG DUTY-FREE, one of the leading operators of duty-free stores in China, has benefited from the recovery in domestic and international travel, as well as increasing consumer spending. The company reported strong financial results in the first half of 2024, with revenue and net profit both showing significant year-over-year growth.

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(CTG DUTY-FREE) surged 8.9% on Tuesday, outperforming the broader market, after it was revealed that JPMorgan Chase & Co. had increased its long position ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"01880","symbol_name":"中国中免","start_time":0,"source_url":"","article_id":"1115765508","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1115765508","pubTimestamp":1727867197,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of China Tourism Group Duty Free Corp.  surged 8.9% on Tuesday, outperforming the broader market, after it was revealed that JPMorgan Chase & Co. had increased its long position in the company's H-shares.According to a filing with the Hong Kong Stock Exchange, JPMorgan increased its stake in CTG DUTY-FREE to 9.22% as of September 26, up from 8.58% previously. 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