HK-listed Emperor Watch hits 17-month peak on earnings view; rivals jump

Emperor Watch & Jewellery

13/07/2023 04:34

** Shares of Emperor Watch & Jewellery Ltd  0887.HK  jump as
much as 27.4% to HK$0.209, highest since February 2022
    ** On course to snap two straight sessions of declines
    ** Stock set for the biggest one-day pct rise since April
2009; third biggest pct gainer on the Hong Kong bourse
    ** Watches and jewelry retailer expects net profit to jump
to HK$180 mln ($23.01 mln) for H1 2023, from HK$86 mln profit in
H1 2022, amid recovery of growth momentum of luxury consumption
in Hong Kong and Macau on resumption of travel 
    ** Bigger rivals Chow Tai Fook Jewellery  1929.HK  and Luk
Fook Holdings  0590.HK  surge 5.2% and 1.3%, respectively
    ** The Hang Seng Commerce & Industry Index  .HSNC  jumps 3%
and the Hang Seng Consumption Index  .HSCGSI  adds 2%
    ** The Hang Seng Composite Index  .HSCI  rises 2.4% and the
Hang Seng Index  .HSI  surges 2.6%
    ** As of last close, the stock fell 8.9% this year


($1 = 7.8210 Hong Kong dollars)

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