<div id="readability-page-1"><div>Macquarie published a research report on the Asian consumer sector, recommending investors to Overweight the Hong Kong and mainland China consumer staples segment, particularly catering supply chain companies such as condiment and beer producers, as the market is currently in a consolidation phase. Prices may rise in 2H26. For the consumer discretionary segment, given weaker market momentum, the broker advises investors to be more selective and cautious in choosing investment targets.The broker noted that rising raw material prices have become a market consensus, with some investors believing that supply disruption risks outweigh pricing risks. It believes this provides support to consumer staples, and industry consolidation is expected to help companies reverse declining sales trends and resume positive growth.The broker mentioned that Eastroc Beverage (09980.HK) +1.800 (+0.877%) and Mingming Henmang (01768.HK) +17.400 (+4.350%) Short selling $2.24M; Ratio 3.382% have attracted discussion, while views on the dairy sector are mixed. Some investors are interested in domestic infant formula brands gaining market share as foreign competitors face product recall issues.In discretionary consumption, the broker said sportswear, particularly Shenzhou International (02313.HK) -0.140 (-0.293%) Short selling $7.44M; Ratio 9.188% and ANTA Sports (02020.HK) -0.200 (-0.240%) Short selling $42.83M; Ratio 30.940% , remains the most crowded positioning area. However, market confidence in their outlook is insufficient, with investors tending to exit and stay on the sidelines. Views on Pop Mart (09992.HK) -0.400 (-0.256%) Short selling $251.22M; Ratio 26.042% are highly divided.Travel remains the most favored theme, though investors are wary of demand risks stemming from high oil prices. They believe Atour Lifestyle (ATAT.US) and H World Group (01179.HK) -1.040 (-2.533%) Short selling $3.68M; Ratio 20.441% , which are more focused on domestic tourism, are relatively less affected. In the Macau gaming sector, market consensus views it as an income-generating play, favoring high-dividend stocks such as Wynn Macau (01128.HK) +0.040 (+0.712%) Short selling $1.70M; Ratio 17.324% . As for gold jewelry, given its low valuation levels, investors are likewise focusing on dividend yield performance. (ss/j)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-04-27 12:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)</div>This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.</div>

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Macquarie recommends an Overweight position on Hong Kong and mainland China catering supply chain stocks, anticipating price increases in 2H26. Investors are advised to be selective in the discretionary sector due to weaker momentum. Rising raw material prices support consumer staples, while industry consolidation may reverse declining sales. Mixed views on the dairy sector and cautious sentiment in sportswear are noted. Travel remains favored, with concerns over high oil prices. The Macau gaming sector is viewed positively for income generation, focusing on high-dividend stocks.

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Macquarie Recommends Overweight on Hong Kong and Mainland Catering Supply Chain Stocks; Weaker Momentum in Discretionary Sector