HONG KONG, June 20 -- Shares in Pop Mart International Group tumbled in Hong Kong trading after a Chinese state media commentary reignited regulatory concerns over the booming blind-box toy sector, triggering a sell-off in the toymaker's stock and related counters.
The Beijing-based company, famed for its wildly popular Labubu dolls, saw its shares drop as much as 6.6 per cent yesterday, adding to a 5.3 per cent slide the day before.
The losses came after People's Daily, the official newspaper of the Chinese Communist Party, ran a commentary urging tighter regulation of "blind cards" and "mystery boxes".
While the article did not name Pop Mart directly, it highlighted concerns that such products could lead to addictive buying behaviour...
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