0909 GMT - China's retail data during Lunar New Year holiday is not enough to support a positive outlook, HSBC analysts Lina Yan and Yimin Wang in a research note. Retail sales grew 5% but the analysts don't read too much into the that as it could be merely a release of spending power after a weak 2024. Spending patterns matter more and they flag some trends that could persist in 2025. These include cost-conscious spending, more demand for certain products due to government stimulus, young consumers leading consumption. Rather than hoping for a turnaround in the consumption cycle, their top picks for 2025 include Giant Biogene for product strength; Anta for resilient earnings growth; Yum China for shareholder returns; and CR Beverage for value relative to profit growth. (tracy.qu@wsj.com)
(END) Dow Jones Newswires
February 06, 2025 04:10 ET (09:10 GMT)
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