HK's Chow Tai Fook Jewellery hits near 2-yr low on weak Dec qtr sales

Luk Fook Holdings (International)

15/01/2019 02:27

** Shares of Chow Tai Fook Jewellery Group Ltd  1929.HK 
fall 2.9 pct to HK$6.03, their lowest since Jan. 27, 2017, after
the jeweller posts its first fall in Hong Kong and Macau's same
store sales in two years during the Dec quarter 
    ** The stock set for its third straight session of decline
    ** Co says same store sales in Hong Kong and Macau falls 6
pct in Oct-Dec quarter, the first decline since the same quarter
in 2017. Same store sales in China drops 7 pct during the
quarter amid uncertain macro environment  urn:newsml:reuters.com:*:nFWN1ZC02G
    ** Chow Tai Fook Jewellery has underperformed the Hang Seng
Commerce & Industry Index sector  .HSNC  by 6.0 percentage
points in the past one month
    ** Stock of smaller rival Luk Fook Holdings  0590.HK  slides
1.6 pct, while that of Chow Sang Sang  0116.HK  edges up 0.2 pct
 
    ** The Hong Kong Hang Seng sub-index tracking consumer goods
companies  .HSCICG  gains 0.6 pct, and the benchmark index
 .HSI  rises 0.97 pct

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