Wangfujing Group's Second Up Town Shopping Center Officially Opens

Wangfujing Group's Linfen Wangfujing Shangcheng Up Town Shopping Center officially opened on April 30, the company said in a same-dated filing on the Shanghai Stock Exchange.

The department store is the Chinese department store chain operator's second store under its Up Town urban lifestyle commercial complex product line, the filing said.

The shopping center in Linfen Economic Development Zone, Shanxi Province, China has a total construction area of 104,000 square meters and a lease term of 20 years.

Wangfujing Group opened its Lhasa Wangfujing Shopping Center in the Tibet Autonomous Region, according to a Shanghai Stock Exchange filing on Thursday.

The Chinese department store chain operator's subsidiary, Beijing Wangfujing Shopping Center Management, manages the 220,000-square-meter shopping center, which has a lease term of 20 years.

By Sherry Qin and Jiahui Huang

Chinese stocks staged a comeback Wednesday afternoon, gaining ground even as U.S. President Trump's blockbuster tariffs on Chinese goods took effect.

Defense and consumption stocks led the gains as investors started to look past the initial tariff shock, and try to pick winners in sectors that could gain from trade tensions.

Chinese defense stocks rose sharply in Shanghai and Shenzhen, led by shipbuilding, aerospace, aircraft carrier names.

China Shipbuilding Industry added 3.9%, while China Marine Information Electronics gained 10%. Emergency traffic engineering manufacturer China Harzone Industry surged 20% and military weapons maker Jiangxi Guoke Defence Group gained 17%.

Among consumer stocks, duty-free retailer China Tourism Group Duty Free and department store chain Wangfujing Group rose 10% each, reaching the daily limit in Shanghai. Shanghai Bailian Group, whose business ranges from supermarkets to shopping malls, jumped 8.6%.

The gains seem to reflect what some analysts see as a silver lining in the tariffs storm: that the economic hit China faces could prompt Beijing to step up policy support.

Beijing set boosting domestic demand as a top priority during a key policy meeting last month and has since reiterated that it has ample room on both the monetary and fiscal fronts to tackle external headwinds.

Officials have said they are holding policy ammunition in reserve if needed, and "the recent market turmoil and uncertainty would seem to present a good window for this," ING economist Lynn Song said.

Duty-free stores, such as CTG Duty Free, could cash in on a trade war since the price gap between duty-free products and duty-paid products will widen under a scenario of rising trade barriers, Morningstar analyst Jennifer Song said.

Investors are also betting on stronger investment in military defense due to escalating China-U.S. tensions.

"It's not just an economic dispute, but the geopolitical tensions between the U.S. and China are intensifying, especially as the current tariffs surpassed the 100% benchmark," said Dong Chen, chief Asia strategist at Pictet Wealth Management.

The rise in geopolitical risks has piqued investors' interest in Chinese national defense stocks, said Lorraine Tan, Morningstar's director of equity research. "Their revenue stream is expected to remain relatively stable," she added.

The gains in consumer and defense related stocks spilled over to semiconductor companies. China's largest chipmaker, Semiconductor Manufacturing International Corp., rose 6.1% and AI chip designer Cambricon Technologies Corp. added 8.8%.

"More investors are coming around to the idea that, as far as the tariff story goes, we are already in the end game, and further tariff hikes will do little to further substantively alter the economic impact," ING's Song said.

Write to Sherry Qin at sherry.qin@wsj.com and Jiahui Huang at jiahui.huang@wsj.com

By Sherry Qin and Jiahui Huang

Chinese stocks staged a comeback Wednesday afternoon, gaining ground even as U.S. President Trump's blockbuster tariffs on Chinese goods took effect.

Defense and consumption stocks led the gains as investors started to look past the initial tariff shock, and try to pick winners in sectors that could gain from trade tensions.

Chinese defense stocks rose sharply in Shanghai and Shenzhen, led by shipbuilding, aerospace, aircraft carrier names.

China Shipbuilding Industry added 3.9%, while China Marine Information Electronics gained 10%. Emergency traffic engineering manufacturer China Harzone Industry surged 20% and military weapons maker Jiangxi Guoke Defence Group gained 17%.

Among consumer stocks, duty-free retailer China Tourism Group Duty Free and department store chain Wangfujing Group rose 10% each, reaching the daily limit in Shanghai. Shanghai Bailian Group, whose business ranges from supermarkets to shopping malls, jumped 8.6%.

The gains seem to reflect what some analysts see as a silver lining in the tariffs storm: that the economic hit China faces could prompt Beijing to step up policy support.

Beijing set boosting domestic demand as a top priority during a key policy meeting last month and has since reiterated that it has ample room on both the monetary and fiscal fronts to tackle external headwinds.

Officials have said they are holding policy ammunition in reserve if needed, and "the recent market turmoil and uncertainty would seem to present a good window for this," ING economist Lynn Song said.

Duty-free stores, such as CTG Duty Free, could cash in on a trade war since the price gap between duty-free products and duty-paid products will widen under a scenario of rising trade barriers, Morningstar analyst Jennifer Song said.

Investors are also betting on stronger investment in military defense due to escalating China-U.S. tensions.

"It's not just an economic dispute, but the geopolitical tensions between the U.S. and China are intensifying, especially as the current tariffs surpassed the 100% benchmark," said Dong Chen, chief Asia strategist at Pictet Wealth Management.

The rise in geopolitical risks has piqued investors' interest in Chinese national defense stocks, said Lorraine Tan, Morningstar's director of equity research. "Their revenue stream is expected to remain relatively stable," she added.

The gains in consumer and defense related stocks spilled over to semiconductor companies. China's largest chipmaker, Semiconductor Manufacturing International Corp., rose 6.1% and AI chip designer Cambricon Technologies Corp. added 8.8%.

"More investors are coming around to the idea that, as far as the tariff story goes, we are already in the end game, and further tariff hikes will do little to further substantively alter the economic impact," ING's Song said.

Write to Sherry Qin at sherry.qin@wsj.com and Jiahui Huang at jiahui.huang@wsj.com

Wangfujing Group won the bid for the Changsha downtown duty-free store project in China's Hunan province via competitive negotiation.

The department store chain operator on Wednesday received confirmation that it was designated as the supplier for the project, according to a Friday filing with the Shanghai bourse.

The contract will have a duration of 10 years.

Shares of Wangfujing Group closed 2% higher Friday.

Wangfujing Group opened a duty-free shop located at the Harbin Taiping International Airport in China's Heilongjiang province.

This is the department store chain operator's first port duty-free store, according to a Thursday filing with the Shanghai bourse.

The company currently operates 79 large-scale comprehensive taxable retail stores, one offshore duty-free store and one port duty-free store in China.

Shares of Wangfujing Group closed 2% higher Friday.