Jewellery group Chow Sang Sang rises as quarterly sales grow
BUZZ-Jewellery group Chow Sang Sang rises as quarterly sales grow ** Shares of Chow Sang Sang Holdings International 0116.HK rise 4% to HK$13.59, on course for the biggest one-day pct gain since October 9
** Stock set to snap two straight sessions of losses
** Jewellery maker and retail chain operator said its retail sales value for three months ended in September increased 3% y/y
** Company records 4% same store sales growth in Chinese Mainland market, and 7% growth in Hong Kong and Macau
** "The Chinese Mainland market remained affected by cautious consumer sentiment, macroeconomic uncertainties and ongoing volatility in gold price," company said, adding demand for gold jewellery remained positive during the quarter
** Bigger rivals climb with Chow Tai Fook 1929.HK rising 1.5%, Laopu Gold 6181.HK gaining 1.2% and Luk Fook 0590.HK up 2.4%
** YTD, Chow Sang Sang stock up 10.2%, while benchmark Hang Seng Index .HSI down 5.2%
(Reporting by Donny Kwok)
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