TOKYO -- Shares in companies doing business in China that had been bolstered by hopes of a post-zero-COVID boom in the world's second-largest economy are slumping on weak economic data that has brought these expectations into question.
Markets
Estee Lauder, Vale and Qualcomm among losers from slow China recovery
Sluggish investment and consumption in key market slam consumer stocks
Estee Lauder has downgraded its full-year sales forecast, with its CEO explaining that Asia travel retail has recovered more gradually from the pandemic than other regions. © Reuters
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