Pop Mart Shares Tumble as Renewed Labubu Demand Concerns Weigh

Pop Mart International Group Ltd shares slid the most in three weeks after media reports of waning reseller demand for its Labubu toys dented investor sentiment.

Shares of the Hong Kong-listed firm dropped as much as 6.2% on Tuesday, making it one of the worst performers on the MSCI Asia Pacific Index. The selloff followed reports that some scalpers had paused buying Labubus after price swings in China’s secondary market signaled weakening appetite.