HK's jewellers, property firms rise on report of withdrawal of extradition bill

Emperor Watch & Jewellery

04/09/2019 09:06

** Hong Kong-based Chow Tai Fook Jewellery Group Ltd
 1929.HK  leads rise among jewellery retailers, climbing as much
as 11.4% to HK$7.32, the highest since July 29
    ** Hong Kong leader Carrie Lam will announce on Wednesday
the formal withdrawal of an extradition bill that triggered
months of unrest and has thrown the Chinese-controlled city into
its worst crisis in decades, Cable TV and other media said
 urn:newsml:reuters.com:*:nL3N25V0NC
    ** A government source confirmed the reports to Reuters
    ** "The talks has fuelled anticipation that the saga may
have a chance to calm down, providing a breather to the most
suffered retailers," said Steven Leung, sales director at UOB
Kay Hian, adding retail property groups shall also benefit 
    ** As of Tuesday's close, shares of Chow Tai Fook had gained
4.9% this year
    ** Smaller rival Luk Fook Holdings  0590.HK  jumps as much
as 10.2% to HK$21.10, its highest since Aug. 19
    ** Meanwhile, Emperor Watch & Jewellery  0887.HK  rises
6.5%, and Chow Sang Sang  0116.HK  gains 4.5%
    ** Stocks of real estate groups with retail property
portfolio also jumped. 
    ** Sun Hung Kai Properties  0016.HK  is up as much as 10.8%,
the highest since Aug. 20
    ** Wharf REIC  1997.HK  jumps 11.1%, New World Development
 0017.HK  soars 11.5%, and Hysan Development  0014.HK  surges
8.2%
    ** The Hong Kong Hang Seng sub-index tracking consumer goods
companies  .HSCICG  rises 1.8%, and the property sub-index
 .HSNP  jumps 7.9%
    ** The Hong Kong benchmark index  .HSI  surges 4.2%

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)