While stock markets are known to fluctuate in reaction to global events, it seems they also now respond to fashion choices.
Chinese President Xi Jinping has sparked a financial fashion frenzy when he wore a US$1000 cobalt blue parka that sent the stock market soaring on Tuesday.
Xi was wearing the coat while inspecting the 2022 Winter Olympics and Paralympics site, and the images were splashed around news bulletins but barely caused a ripple on social media – because of the brand’s elite urban customer base.
However, its impact was felt most on the Hong Kong stock market with the Anta Group – who own the brand Arc’teryx – jumping to 9.4% – on the same day.
An official sponsor of the 2022 ga
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Jan 22, 2021