Budweiser Asia Pacific (01876) once fell nearly 7%, hitting an intraday low of HK$10.4, a new low since listing. As of press release, it decreased by 5.35% to HK$10.62, with a turnover of HK$118 million.
The Zhitong Finance App learned that Budweiser Asia Pacific (01876) once fell nearly 7%, and the intraday low of HK$10.4 hit a new low since its launch. As of press release, it decreased by 5.35% to HK$10.62, with a turnover of HK$118 million.
According to the news, J.P. Morgan Chase published a report stating that Budweiser Asia Pacific's sales volume in China and South Korea in the first quarter is predicted to decline due to tepid consumer sentiment. However, the main risk facing Budweiser China is the gradual weakening of the contribution brought about by changes in the channel mix, while the South Korean market is being affected by the resurgence of Japanese brands, which are competing for market share lost during the 2019 trade war. Maintaining a “neutral” rating, the target price was lowered from HK$11.5 to HK$11.