By Yongchang ChinHong Kong-listed consumer stocks are higher in early trade as sentiment is buoyed by the Shanghai government's plan to loosen Covid-19 restrictions on June 1 as daily case counts decline. "We believed that there will be a rebound in consumption after the unlocking," analysts from brokerage KGI Securities say. Analysts from KGI Securities say this presents a buying opportunity, and view China Resources Beer as particularly attractive. The measures should be supportive of Hong Kong stocks in general as they could calm some of the concerns about Covid-19 risks, IG market strategist Yeap Jun Rong says. This is because China's "strict virus stance suggests that any [future] outbreaks will still be met with heavy economic restrictions," he says.

Source: Wall Street Journal May 30, 2022 03:06 UTC