Chinese sportswear group Xtep jumps most in 8 weeks as retail sell-through grows

Xtep International Holdings

11/07/2024 06:47

** Shares of Chinese sportswear group Xtep International
Holdings Ltd  1368.HK  jump 6% to HK$4.98, on track for biggest
one-day pct gain since May 14, if trend holds
    ** Stock hits the highest level since June 25, up for a
third straight session
    ** Xtep posts 10% Y/Y growth in retail sell-through in
mainland China, including offline and online channels, for the
three months ended in June, and a high single-digit growth for
the January-June period   
    ** Bigger rivals also rise, with ANTA Sports  2020.HK  and
Li Ning Co  2331.HK  up 4.2% and 1.9%, respectively 
    ** The Hang Seng Consumption Index  .HSCGSI  rises 1.3%,
while the Hang Seng Commerce & Industry Index  .HSNC  and the
Hang Seng Index  .HSI  both surge 1.7%
    **  Xtep stock up 12.9% YTD 

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))