HK-listed apparel maker Shenzhou International slumps amid Xinjiang outcry

Shenzhou International group

25/03/2021 05:44

** Shares of Chinese apparel maker Shenzhou International
Group  2313.HK  fall as much as 7.5% to HK$147, their lowest
since Jan 19; stock set for fifth straight session of losses
    ** Stock of apparel supplier to Nike  NKE.N  marks worst day
since Nov 11; the biggest percentage decliner in the Hang Seng
Commerce & Industry Index  .HSNC 
    ** Anger erupted on Chinese social media over a statement by
the sporting goods giant saying it was "concerned" at the
reports of forced labour, adding that it did not use cotton from
Xinjiang  urn:newsml:reuters.com:*:nL1N2LN04N
    ** Shenzhou is the largest apparel maker for Nike, Adidas,
Puma, and Uniqlo, contributing 17%, 20%, 40%, and 15%,
respectively, to its total apparel lines with strong revenue
growth potential - Morningstar wrote in a note in January  
    ** Shares in China's home-grown apparel and clothing
companies surge amid the social media storm on Xinjiang cotton.
Home-grown sports group ANTA Sports  2020.HK  rises 7.1%, after
saying it will continue to use cotton from Xinjiang  urn:newsml:reuters.com:*:nL1N2LN06E
 urn:newsml:reuters.com:*:nL1N2LN05S
    ** At least one Chinese online retailer appeared to drop
H&M's  HMb.ST  products amid social media attacks on the Swedish
firm amid Xinjiang outcry  urn:newsml:reuters.com:*:nL1N2LM0XK
    ** Shenzhou stock had soared 167.3% from a low of HK$72.35
in March last year to HK$193.40 peak last month  
    ** Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
falls 1.3%, and the benchmark index  .HSI  gains 0.04%
    

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)