Movement Alert|CHOW TAI FOOK Falls 3.18% in Regular Trading, Sustained Gold Price Weakness Drags Jewelry Sector

Market Focus
Sep 11

On September 11, CHOW TAI FOOK fell 3.18% in regular trading, trading at HK$11.55/share, with turnover of HK$107 million.

On the news front, international gold prices have remained under sustained pressure. CHOW TAI FOOK's Hong Kong gold jewelry quotation stood at HK$49,520 per tael on September 11, down 1.78% on the day and 3.08% cumulatively over the past week. The broader jewelry sector was broadly weaker, with EVEREST GOLD falling 4.25% and LUK FOOK HOLD declining 0.56%. Daiwa had previously downgraded CHOW TAI FOOK from Buy to Outperform, flagging that same-store sales growth momentum could slow amid an unclear gold price trajectory, while maintaining a target price of HK$13.70 and noting the company's attractive 6% dividend yield.

Within the Specialty Stores sector, the overall sector traded lower. Among individual stocks, POP MART down 0.79%, CTG DUTY-FREE down 2.10%, LUK FOOK HOLD down 0.56%, EVEREST GOLD down 4.25%, SA SA INT'L down 2.03%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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