Hong Kong jeweller Luk Fook at 5-week peak on upbeat earnings forecast, rivals up

Emperor Watch & Jewellery

23/11/2023 02:01

** Shares of jewellery retailer Luk Fook Holdings
(International) Ltd  0590.HK  climb 2.8% to HK$20.40, their
highest since Oct 19
    ** Co expects its revenue for six months ended in September
to rise over 30% YoY and profit over 40% YoY, thanks to
improvement in retail sentiment in Hong Kong, Macau and China
with retailing business returning to normalcy
    ** Stock of bigger rival Chow Tai Fook Jewellery  1929.HK 
edges up 0.5%, smaller competitor Emperor Watch & Jewellery
 0887.HK  up 1.8%   
    ** The Hang Seng Consumption Index  .HSCGSI  slips 0.8%, the
Hang Seng Index  .HSI  eases 0.7%
    ** Luk Fook stock down 12.1% YTD

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