The news from China has given a boost to several luxury goods manufacturers. Since Tuesday, Hermès has risen 11 percent on the Paris Stock Exchange, while LVMH, which owns Louis Vuitton, Fendi, and Hennessy, is up just under 11 percent.
Several luxury brands have had a tough time lately, not least because Chinese consumers have rejected the slightly more exclusive products. Since the turn of the year, LVMH has fallen by over 10 percent.
Kering, which owns Gucci, has also received a boost in recent days since the Chinese central bank announced its measures. The stock has risen 10 percent since Tuesday, but on the other hand, it has fallen by nearly 40 percent since the turn of the year.
The Chinese economy has seen a weak recovery after the pandemic and the extensive lockdowns implemented in the country. According to information provided to the news agency Bloomberg, further measures may be on the way from China's central bank.
