$Lululemon(LULU.US) and $MIXUE GROUP(02097.HK) both rose nearly three percentage points—consumer stocks closed in the green in a declining market. One is the sportswear sector that has seen valuations slashed for a year, showing some resilience with a bit of short covering; the other is one of the few tea beverage chains still talking about expanding to ten thousand stores. Is the defensive rotation a real shift or just a one-day wonder? Wait for the market action on the third day to tell; the first two days were all noise.
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