Pursuits
Hengdeli Declines After Report Some Watch Licenses Lost
This article is for subscribers only.
Hengdeli Holdings Ltd., the Chinese retail partner of Swatch Group AG, closed higher after plunging in the previous trading session, when a Next Magazine report fueled concerns about the company’s operations and distribution.
The retailer rose 0.7 percent to HK$2.72 at the close in Hong Kong, after declining as much as 5.9 percent during the day. The stock fell 13 percent yesterday.