Midea, Haier Shares Pop on China Rush for Fridges and Washers
- Shares of appliance makers have outperformed broader market
- Analysts see double support from subsidies, property measures
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When it comes to China’s trade-in policy to boost consumer spending, the success is coming two-fold: Sales of home appliances surged in September, and investors are buying up shares of their producers.
Appliance maker stocks including Midea Group Co. and Haier Smart Home Co., two of the nation’s biggest by market cap, have outperformed global peers since the $41 billion stimulus package was announced in July. While they’ve lost some of the gains in recent weeks, they’re still up more than 20% in the past three months, beating the benchmark CSI 300 Index.