Hong Kong retail stocks generally declined. As of press release, Baoshilong (00592) fell 4.2% to HK$0.114; Lukfook Group (00590) fell 3.34% to HK$18.52; and Salsa International (00178) fell 2.56% to HK$0.76.
The Zhitong Finance App learned that Hong Kong retail stocks generally declined. As of press release, Baoshilong (00592) fell 4.2% to HK$0.114; Lukfook Group (00590) fell 3.34% to HK$18.52; Salsa International (00178) fell 2.56% to HK$0.76; Chow Sang Sang Sang (00116) fell 2.05% to HK$7.63; Prada (01913) fell 0.93% to HK$63.9.
According to the news, the Statistics Department of the Hong Kong Government recently released the latest retail sales figures. The provisional estimate of total retail sales value in April 2024 was HK$29.6 billion, a year-on-year decrease of 14.7%. Compared with the same period in 2023, the provisional estimate of the total retail sales value for the first four months of 2024 fell by 4.7%.
According to a research report published by Morgan Stanley, the retail sales value in Hong Kong fell nearly 15% year on year in April, due to a decrease in mainland tourists, continued outbound spending by Hong Kong people, a high base (there were vouchers for the same period last year), and bad weather, which fell short of the bank and market expectations. The bank expects the year-on-year decline in retail sales in Hong Kong to narrow to 13% in May.