0852 GMT - Luk Fook's FY 2026 outlook is likely to be bolstered by Lunar New Year demand and supportive gold prices, says Mavis Hui of DBS Group Research in a note. The Hong Kong-based jeweler's 3Q FY 2026 revenue growth beat expectations slightly, the analyst says. Sales for the Hong Kong and Macau markets are accelerating, with key drivers such as a widening price gap versus China--due to China's declining value-added-tax refunds for gold jewelry--driving customers to the two markets, she adds. Any losses from gold-price hedging are less likely to weigh on Luk Fook's profits given the upturn in sales, she adds. DBS raises its target price to HK$33.87 from HK$31.31 and reiterates a buy rating. Shares closed 0.6% higher at HK$27.46. (megan.cheah@wsj.com)

(END) Dow Jones Newswires

January 16, 2026 03:52 ET (08:52 GMT)

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