hong konglisted consumer stocks are higher in early trade as sentiment is buoyed by the shanghai governments plan to loosen covid19 restrictions on june 1 as daily case counts decline we believed that there will be a rebound in consumption after the unlocking analysts from brokerage kgi securities say the local government a number of supportive measures as well including reducing rent and property taxes for businesses and granting subsidies for water electricity and naturalgas costs state media outlet xinhua reported over the weekend measures will also be adopted to stabilize foreign capital encourage consumption and expand investment it said consumer stocks are pulling the benchmark hang seng index higher monday morning led by apparel group li ning co hotpot chain haidilao international holding ltd and brewer china resources beer holdings co which are up 82 64 and 63 respectively the hsi is up 22 analysts from kgi securities say this presents a buying opportunity and view china resources beer as particularly attractive not only has the brewers stock dropped sharply due to the covid19 outbreak but it is expected to post 26 growth in 2023 earnings per share they say shares are down 26 so far this year the measures should be supportive of hong kong stocks in general as they could calm some of the concerns about covid19 risks ig market strategist yeap jun rong says however mr yeap notes that previous fiscal measures were met with only a lukewarm reaction in the markets suggesting that some reservations may remain this is because chinas strict virus stance suggests that any future outbreaks will still be met with heavy economic restrictions he says