Chinese Retail Stocks Rise After Beijing Unveils New Consumption Measures

Chinese retail stocks gained after Beijing rolled out new measures intended to lift household spending. The announcement targets a domestic demand picture that has lagged China's export and manufacturing strength in recent quarters. The rally in retail names contrasts with weaker signals elsewhere in Asia. India's factory activity grew at its slowest pace in five years in August, based on a widely tracked PMI survey, as demand weakened. Separately, BYD shares rose and Z.AI shares jumped after first-half revenue nearly quadrupled, adding to a mixed but generally upbeat tone in Chinese equities. What remains unresolved is how much actual consumer spending the new measures generate. Beijing has announced consumption-support steps before without always producing a durable pickup in retail sales.