BELLE Rises 4.4% Business East Asia Raises Rating To Buy

BELLE International (1880.HK) rose 4.4% at midday to HK $11.30, and Chinese consumer stocks overall strengthened, especially footwear retailers. The turnover was active and the turnover was HK $178 million.

The industrial and Commercial East Asian group upgraded its rating from neutral to buying, with a target price of HK $13.40. Business East Asia is optimistic about BELLE's multi brand strategy and its extensive product mix (including women's shoes and sports shoes). It is Nike and Adidas's largest distributor in China, and has its own brand Fila.

Industrial and Commercial East Asia added that the company's high-end products priced at 400-600 yuan per pair will surely benefit from the increase in wealth and the increase in the number of working women.

0551.HK shares rose 10% to HK $27.50, while 1386.HK gained 7.3% to HK $3.70.