HK's Chow Tai Fook Jewellery hits 3-1/2 yr high on strong quarterly sales

Emperor Watch & Jewellery

17/04/2018 03:06

** Shares of Chow Tai Fook Jewellery Group Ltd  1929.HK  rise
5.6 pct to HK$10.30, the highest since Sept 17, 2014
** The jewellery chain operator says its retail sales value
rises 13 percent in China for 3 months ended in March and 11
percent growth in Hong Kong and Macau  urn:newsml:reuters.com:*:nFWN1RT08N
** Company says same stores sales surge 7 percent in China, and
up 17 percent in Hong Kong and Macau, thanks to improving
consumer sentiment and recovery in mainland tourist arrivals
** As of 0159 GMT, about 3.35 million shares of the Hong
Kong-based company have been traded, compared with their 30-day
moving average of 4.56 million shares a day
** Among the 22 analysts that cover Chow Tai Fook Jewellery, the
current average rating on the shares is "buy"; the breakdown of
recommendations is 15 "strong buy" or "buy", and seven "hold".
The analyst mean price target is HK$10.06 
** Smaller rivals Luk Fuk Holdings  0590.HK  rises 5.7 percent,
Emperor Watch & Jewellery  0887.HK  climbs 2 percent and Chow
Sang Sang Holdings  0116.HK  gains 1.3 percent 
** Hong Kong benchmark index  .HSI  falls 0.7 pct

 (RM: donny.kwok.thomsonreuters.com@reuters.net)