Starbucks Stock (NASDAQ:SBUX)
Along with other U.S. equities with a significant presence in China, Starbucks Corporation (NASDAQ:SBUX) stock declined by 5.62% during late morning trading on Monday.
Concerns that President Xi Jinping’s weekend moves to stack party leadership rank with loyalists will lead to even more COVID restrictions and increased tension with the United States caused the Hang Seng Index to fall by 6.36% early in the day in Hong Kong. This was the event that sparked the beginning of the day’s anxiety. The index of the Shanghai Stock Exchange finished with a loss of 2.02%.
Naturally, the bullish view on Starbucks stock significantly emphasizes China.
In September, Starbucks opened its 6,000th location on the Chinese mainland in Shanghai, marking the occasion with a party. Starbucks stock has continued to look forward to a period of robust development in China, despite COVID regulations that have held down retail traffic. In addition, the coffee shop operator recently said that it is persistently innovating and expanding original store ideas to better serve consumers and communities.
The most recent events that have taken place in China have shone an even sharper focus on the earnings report and conference call that will be held by Starbucks on November 3.
Featured Image- Megapixl @ June Andrei George
Author Shariq Khan 
