By  on October 10, 2018

PARIS – LVMH Moët Hennessy Louis Vuitton, the world’s largest luxury group, said Wednesday it welcomed the Chinese government crackdown on daigou shoppers, even as fears of a Chinese slowdown sent European luxury stocks tumbling.

Shares in LVMH ended the session down 7.1 percent at 265.30 euros on the Paris Stock Exchange, a six-month low, despite the group posting a solid performance in the third quarter that suggested it was immune so far to brewing uncertainty in Asia.

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