Adidas: Investors fear increased risks in China after EU sanctions – share slips below the 200-day line
- By sennenqshop/li>
- 877
- 01/05/2022
Adidas is facing a significant headwind today, because stock market traders see increased risks for the China business. After EU sanctions were imposed on China, Swedish fashion chain Hennes & Mauritz and other foreign companies there have come under fire. Sports brands such as Adidas, Nike and New Balance were subsequently penalized by a newspaper close to the party. State broadcaster CCTV lashed out by saying Chinese consumers were "voting with their feet and boycotting unruly companies."
Against the background of these events, the stock slipped by more than 4 percent and also had to give up the long-term 200-day trend line. The papers have thus reached their lowest level in seven weeks.
On Monday, the EU imposed sanctions on China for the first time in more than three decades. These are aimed at Chinese officials who are held responsible for the persecution of the Uyghurs.
onvista/dpa-AFX
Cover photo: kit lau / Shutterstock.com
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