China's Economic Woes Weigh on Swiss Watch Exports -- Market Talk

Dow Jones10-17

0946 GMT - Exports of Swiss watches in September recorded the steepest year-on-year sales decline of 2024, mostly due to China weakness, Bernstein analysts write in a research note. Total exports of timepieces amounted to 2.1 billion Swiss francs, around 12% lower compared with the same month last year, following a wider downward trend in demand for luxury goods. "Short-term demand woes in China are affecting the whole luxury industry, and investors may need to reduce their short-term expectations around Chinese luxury growth," they say. However, Bernstein sees potential for a gradual recovery in China, given the intent of the Chinese government to improve the economy. (andrea.figueras@wsj.com)

(END) Dow Jones Newswires

October 17, 2024 05:47 ET (09:47 GMT)

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Total exports of ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">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":"CFRUY","symbol_name":"历峯集团","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2476194251","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2476194251","pubTimestamp":1729158420,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0946 GMT - Exports of Swiss watches in September recorded the steepest year-on-year sales decline of 2024, mostly due to China weakness, Bernstein analysts write in a research note. 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