HELENS, a Hong Kong-listed company, witnessed a significant surge of 15.99% in its stock price during intraday trading on Thursday. This upward movement is attributed to growing optimism among investors regarding potential measures aimed at bolstering domestic consumption in China.
The surge in HELENS' stock price comes as Chinese authorities are expected to unveil more concrete policies to stimulate consumer spending during the ongoing Central Economic Work Conference. Traders are anticipating the announcement of specific measures, such as voucher programs and stimulus initiatives, to revive the slowing economy and boost domestic demand.
Shen Meng, a director at Chanson & Co., a boutique investment bank, commented, "The expectation of more specific policy measures to boost consumption during the economic work conference, combined with previous stimulus policies, will have a positive impact on the overall market sentiment." This sentiment has fueled the rally in consumption-related stocks, including HELENS.
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