Chow Tai Fook Jewellery leads retailers lower on new virus curbs in Hong Kong

Emperor Watch & Jewellery

06/01/2022 07:05

** Chow Tai Fook Jewellery Group  1929.HK  leads slide in
retail-related stocks after Hong Kong announces new measures to
tighten COVID-19 curbs, with shares falling 10.6% to HK$12, the
lowest since May 7 
    ** Smaller rivals Luk Fook  0590.HK , Tse Sui Luen  0417.HK 
and Emperor Watch  0887.HK  fall between 0.5% and 7.6% 
    ** Hong Kong govt announced tightened restrictions on
Wednesday including a ban on some incoming flights as
authorities feared a fifth wave of infections  urn:newsml:reuters.com:*:nL1N2TL0AX
    ** The government would ban indoor dining after 6.00 pm from
Friday, and close swimming pools, sports centres, bars and
clubs, museums, and other venues for at least two weeks 
    ** Bank of America says in a research note that new Omicron
wave poses downside risk to Hong Kong economic growth and 1Q
growth outlook comes under pressure but the impact should be
marginal if the measures are relaxed after two weeks
    ** Cosmetic chain Sa Sa  0178.HK  eases 1.3%, Bonjour
 0653.HK  drops 6.7%
    ** Shopping mall operators Wharf REIC  1997.HK  and Swire
Properties  1972.HK  drop a respective 1.9% and 2.8% 
    ** Cathay Pacific Airways  0293.HK  down 1.9% 
    ** Hang Seng Composite Index  .HSCI  eases 0.7%, and Hang
Seng Index  .HSI  down 0.4%


 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))