Shares in five of Asia's largest furniture and bedding companies, including Man Wah Holdings, Healthcare Co (Mlily), and Keeson Technology, have fallen to their lowest levels in a year.
Cabinet makers Zbom Home Collection and Oppein Home Group also saw declines. The drop occurred early in the week amid a wider market sell-off, partly driven by fears of potential new tariffs from the U.S. if Donald Trump is re-elected president. Trump has threatened to reintroduce tariffs on various imports, including consumer goods, which may be dampening investor confidence.
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Another major Chinese company, QuMei Home Furnishings Group, which owns Ekornes, has also experienced a significant drop in value in recent weeks. The broader CSI 300 index, which tracks the top 300 equities on the Shanghai and Shenzhen stock exchanges, is down around 7% this year, heading for a fourth consecutive annual decline. The potential impact of protectionist U.S. policies is adding to investor concerns, further contributing to the slump in these key Chinese companies.
Source: www.thefurnishingreport.com