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Podcast: The Afternoon Update with Lynlee Foo
Episode: Money in the Market: Are luxury stocks out of fashion now?
Description: Luxury stocks saw a sharp decline in Europe last week, after a profit warning from the owner of Gucci laid bare a sharp slowdown in demand for high-end goods, especially in China. Shares of Gucci owner Kering plunged as much as 15%. Other luxury stocks also saw a similar decline - with LVMH down more than 3% at one point. So what’s driving the sudden decline in luxury stocks? Are luxury stocks no longer a safer investment choice to bet on China’s economic recovery? On Money in the Market, Hongbin Jeong speaks to Shirley Zhao, Consumer, Conglomerates and Gaming Repor...