HK Stock Market Move | SHEIN-W (00625) rises over 5% again; JPMorgan gives a target price of HK$50; the company's year-end major promotion peak season is approaching.

SHEIN-W (00625) rose over 5% again, up 5.12% as of press time, at HK$36.14, with a turnover of HK$20.142 million. On the news front, JPMorgan initiated coverage on SHEIN's Class B shares with an "Overweight" rating. The target price was set at HK$50, implying 45% upside from its previous closing price. It is worth noting that SHEIN's year-end major promotion warm-up period will officially kick off on October 19, followed by two major event phases Event Phase 1 and Event Phase 2 and will finally end on December 27, lasting more than two months in total. For "Black Friday and Cyber Monday" as well as other major promotional events, SHEIN will also launch special events for Double 11, Black Friday, Cyber Monday, and Double 12.