Chow Tai Fook leads slide in jewellers on weak HK April retail sales

Oriental Watch Holdings

03/06/2019 06:29

** Shares of Chow Tai Fook Jewellery Group  1929.HK  lead
slide in Hong Kong jewellery retailers, sliding as much as 2.7%
to HK$6.52 to their lowest since Jan. 28, after retail sales in
Hong Kong slipped with jewellery sector leading the fall
    ** Hong Kong posted a 4.5% fall YoY in April retail sales
value; jewellery, watches and valuable gifts segment plunged
11.4%. That compared with a 0.2% fall in March retail sales
value, and 2.6% decline in jewellery segment  urn:newsml:reuters.com:*:nAZN00GRYB https://bit.ly/2HQhs7k
     
    ** Hong Kong Retail Management Association says the drop in
sales value of jewellery segment is the biggest among all
categories in April
    ** The association says member companies forecast a flat to
low single-digit increase in sales value for 'May Golden Week'
semi-annual labour day national holiday and for the whole month
in May 2019
    ** Smaller rival Luk Fook Holdings  0590.HK  fall 2.6% to
HK$24.50, the lowest since Feb. 22, 2019
    ** Oriental Watch  0398.HK  falls 3.6%, Chow Sang Sang
 0116.HK  slides 2%, Emperor Watch & Jewellery  0887.HK  edges
down 0.5% 
    ** The Hong Kong Hang Seng sub-index tracking consumer goods
companies  .HSCICG  eases 0.2%, and the benchmark index  .HSI 
slides 0.4%

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