Monday, October 14th 2024, 6:12:38 am
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Investors in French luxury group LVMH are eager for signs that China's new fiscal stimulus measures can finally pull wealthy and middle-class Chinese shoppers out of their funk, inspiring them to splash out on $4,300 designer leather handbags ahead of Singles Day, China's largest annual shopping spree. The global slowdown is most marked in China as economic uncertainty weighs on middle-class shoppers and makes those who can still afford luxury cautious about ostentation. LVMH shares, alongside peers Gucci-owner Kering, Hermes and Richemont, owner of Cartier, have been on a roller coaster this year.