** Shares of Chow Tai Fook Jewellery fall 11.1% to HK$10.70, lowest since Oct 27, snapping two sessions of gain
** Stock marks the biggest one-day pct rise since Nov 25, 2022 if losses hold; biggest pct loser in Hang Seng Index
, Hang Seng Composite Index and Hang Seng Commerce & Industry Index
** Jewellery retailer says its net profit for six months ended September grew 36.4% YoY to HK$4.55 bln ($583.71 mln with core operating profit $(COP)$ up 37.7% and revenue up 6.4%
** "We continue to expect FY2024 to be a year of gradual recovery" - Co
** Daiwa says Chow Tai Fook's net profit beat but revenue miss while a 6.7% YoY same store sales growth in mainland China for Oct 1-Nov 18 is trailing expectation signalling still weak consumer sentiment
** "Thus, we expect the share price to react negatively in the near term to the implied 2H FY24 outlook" - Daiwa
** Jefferies maintains "buy" but trims price target to HK$17.02 from HK$18.64
** Hang Seng Composite Index eases 1.4%, Hang Seng Index down 1.6%
** Stock down 28% YTD
($1 = 7.7949 Hong Kong dollars)
(Reporting by Donny Kwok)
((donny.kwok@thomsonreuters.com))
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