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

Market Focus09-03

On September 3, CHOW TAI FOOK fell 3.18% in regular trading to HK$12.17, with turnover of approximately HK$32.71 million.

On the news front, international gold prices continued to slide, with spot gold previously breaking below US$4,500 per ounce as hawkish signals from the Federal Reserve fueled rate-hike expectations. Domestic branded gold jewelry prices fell sharply in tandem — on September 2, CHOW TAI FOOK pure gold jewelry was quoted at RMB 1,306 per gram, down RMB 36 in a single day and more than RMB 100 below its late-August peak. Goldman Sachs and Citi have both recently cut their gold price targets, further dampening industry outlook expectations. Listed gold jewelry companies broadly reported declines in both revenue and profit in the first half, with leading brands collectively closing nearly 2,000 stores net amid sustained pressure on end-consumer confidence.

Within the Specialty Stores sector, LUK FOOK HOLD rose 0.93%, POP MART was flat at 0%, CTG DUTY-FREE rose 2.2%, KING FOOK HOLD fell 0.81%, and BONJOUR HOLD fell 1.67%.

(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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