Jewellery retailer Chow Sang Sang at 10-week high after upbeat H1 outlook

Luk Fook Holdings (International)

02/08/2023 04:23

** Shares of Chow Sang Sang Holdings International Ltd
 0116.HK  rise as much as 12.4% to HK$10.30, their highest since
May 24; stock set for second session of gains
    ** Stock logs biggest one-day pct rise since January 2013,
if gains hold
    ** Company expects H1 net profit to jump 70%-80% YoY on
easing epidemic-related restrictions in Hong Kong, Macau and
mainland China and low base comparison in 2022
    ** Rivals Chow Tai Fook Jewellery  1929.HK  and Luk Fook
Holdings  0590.HK  drops 2.5% and 1.9%, respectively 
    ** Hang Seng Consumption Index  .HSCGSI  and Hang Seng
Composite Index  .HSCI  drop 2% each; Hang Seng Index  .HSI 
falls 1.9%
    ** As of last close, shares of Chow Sang Sang fell 11% this
year
 

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