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Labubu-maker Pop Mart's shares extend slide as Morgan Stanley removes it from China focus list

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Summary
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75% Informative

Pop Mart's Hong Kong -listed shares dropped more than 5% , extending slide from previous session when they had slumped 5.3% .

The high-flying stock is on track for its first negative week since early May — down more than 13% so far.

Morgan Stanley said in a note late Wednesday it was replacing Pop Mart with insurance company PICC P&C in its China focus list.

The investment bank did not elaborate on why it removed Pop Mart shares.

VR Score

85

Informative language

90

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49

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formal

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English

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36

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short-lived

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