China’s luxury buyers pull back as economy slows

HONG KONG (Reuters) – Shares of the world’s largest jewellery retailer, Chow Tai Fook , tumbled nearly 8 percent to a two-week low on Thursday on weaker-than-expected sales, deepening a sector-wide stock slump as China’s slowing economy saps luxury demand. A host of Chinese companies, ranging from a steel maker to a major airline, have warned of disappointing results over the past week as the world’s second biggest economy slows to its weakest growth pace in three years. …
Economy News Headlines – Yahoo! News UK





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