HK Stock Market Move | China Tourism Group Duty Free Corporation (01880) falls by over 4% again, down nearly 30% since the holiday. Institutions point out that the high expectations in the previous market and the delayed release of negative factors are causing this decline.

China Tourism Group Duty Free Corporation (01880) fell by over 4% again, with a cumulative drop of nearly 30% after the holiday. As of the time of reporting, it fell by 4.31% to 75.5 Hong Kong dollars, with a turnover of 1.88 billion Hong Kong dollars. On the news front, according to statistics from Haikou Customs, during the 2026 Spring Festival holiday, Haikou Customs supervised a total of 2.72 billion yuan in duty-free shopping on outlying islands, an increase of 30.8% compared to the previous year's Spring Festival holiday; the number of items sold was 1.997 million, an increase of 21.9% year-on-year; and the number of shopping visits was 325,000, an increase of 35.4% year-on-year. The daily average duty-free shopping amount during the Spring Festival holiday on outlying islands increased by 16.5% compared to the previous year. Sinolink pointed out that the share price of China Duty Free fell by 14.86% last week, mainly due to the high expectations of the market in the previous period and the delayed release of negative news, rather than a trend reversal. The bank believes that the reason why the sales growth rate during the Spring Festival holiday did not expand compared to January is mainly due to: the duty-free city has a limit on reception capacity, making it difficult to further increase in the peak season background; the recent reduction in duty-free discounts has led to a decrease in daigou activities and a decrease in shopping willingness; the duty-free consumption demand was released ahead of the holiday.