In the past two days, H&M Group’s statement of “touching porcelain” Xinjiang Cotton completely aroused public outrage in China. With the fermentation of public opinion, international sports brands such as Adidas and Nike have also been picked out as members of BCI and have made speeches about “cutting” with Xinjiang cotton.
Subsequently, “while spreading rumors to boycott Xinjiang cotton, while wanting to make money in China? wishful thinking!”, “I hope these companies that distort facts and want to make Chinese money will do their own thing”, and “Xinjiang cotton will not eat this set” became Chinese social media. The most commented on.
Affected by this news, Nike and Adi fell sharply in the capital market.
In the case of U.S. stocks rebounding last night, Nike closed down 3.39%, and the daily circulating market value evaporated about 7.1 billion U.S. dollars (about 46.3 billion yuan); Adidas fell more than 6.49% on the Frankfurt Stock Exchange in Germany on March 25 (US stocks ADR fell Over 5%), the single-day circulating market value evaporated about 3.5 billion euros (approximately 27 billion yuan), and the combined market value of the two evaporated about 73.3 billion yuan.
While a number of international brands have been denounced, A-share investors also “supported” the matter. On March 25, they actively bought shares of listed companies of domestic brands, searching for Yute, Ribo Fashion, Meibang Apparel, and Startup. Shares and other collective daily limit, Langsha shares, seven wolves, Hailan Home, Nanshan Zhishang, etc. rose among the top. Simultaneously with the A-share market, Li Ning and Anta Sports also rose sharply in the Hong Kong stock market, both rose by more than 10% during the intraday market, and Xtep International rose by more than 4%.