0718 GMT - Strong Chinese spending data that beat market expectations over the Lunar New Year holiday could support upward consensus revisions for Chinese consumer stocks in 1Q, HSBC analysts say in a note. Among HSBC's top consumer-sector picks, the analysts note that Yum China and H World Group are likely to benefit from experience spending. China Tourism Group Duty Free should gain from increased duty-free spending, while Chow Tai Fook Jewellery and Anta Sports Products are likely to benefit from consumers' spending on goods. The analysts have buy ratings on all five stocks. (tracy.qu@wsj.com)
(END) Dow Jones Newswires
February 22, 2024 02:18 ET (07:18 GMT)
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