$MNSO(09896.HK)$Yonghui Superstores(601933.SH)

Just mentioned it this morning, I'm already afraid to average down on MINISO any further, and they immediately issued a positive trading update🙃

However, the major bottom of a stock usually doesn't coincide with positive news.

Long decline + positive news = dramatic rebound, that's the thinking for writing scripts and filming TV dramas.

Taking MINISO as an example, the two recent major bottoms were: one when it acquired Yonghui and opened -20%, and the other during the 4.7 trade war.

So, it's hard to say how to view the positive news and short-term trend here.

But in the long run, MINISO's valuation has reached an extremely low level, which has already priced in most pessimistic expectations.

As long as you still plan to allocate some capital in the consumer sector, there's no reason to sell MINISO.