HK jeweller Chow Tai Fook at near 10-mth high on improved quarterly sales

Luk Fook Holdings (International)

18/04/2019 07:50

** Shares of Chow Tai Fook Jewellery Group Ltd  1929.HK 
rise as much as 3.6 pct to HK$8.92, the highest since June 25,
2018, after the jewellery retailer posts improved sales growth 
    ** Hong Kong-based firm posts 9 pct same store sales growth
in China for quarter ended in March, and a 1 pct growth for Hong
Kong and Macau. Retail sales value grows 24 pct in China and 7
pct in Hong Kong and Macau during the three months period
 urn:newsml:reuters.com:*:nFWN21Z01P
    ** That compared with a 7 pct drop in China same store sales
and a 6 pct fall in Hong Kong and Macau in the previous quarter
that ended in December with retail sales value up 1 pct in China
but down 1 pct in Hong Kong and Macau  urn:newsml:reuters.com:*:nFWN1ZC02G
    ** As of last close, the stock had risen 31.9 pct so far
this year
    ** Chow Tai Fook has outperformed the Hang Seng Commerce &
Industry Index sector  .HSNC  by 3.6 percentage points in the
past one month
    ** Smaller rival Luk Fook Holdings International  0590.HK  
climbs as much as 3.1 pct, after it posts a 6 pct fall in same
stores sales for Jan-March quarter. That compared with a 10 pct
decline in Oct-Dec quarter  urn:newsml:reuters.com:*:nFWN21Y0ZL
    ** On Thursday, the Hong Kong Hang Seng sub-index tracking
consumer goods companies  .HSCICG  eases 0.2 pct, and the
benchmark index  .HSI  slides 0.4 pct

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