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Swatch Group AG reported another six months of falling sales and profit, hit hard by sluggish demand for luxury timepieces in China. Shares tumbled.

The Swiss watchmaking group has been contending for more than a year with falling demand for watches in China and Hong Kong.

The decline was largely attributed to a reversal of tariff frontrunning, particularly in exports to the United States, which fell nearly 30%. This sharp decrease followed a significant increase in the ...

Switzerland's exports fell in the second quarter as tariff frontrunning reversed and a strong franc likely squeezed demand.