Chow Sang Sang Fears Impact of Trade War

RAPAPORT Hong Kong-based jeweler Chow Sang Sang warned that trade tensions may impact its earnings for the remainder of 2018, even after first-half sales grew "Though the results of the first half of 2018 looked encouraging, the impact of international trade disputes, the effect of interest-rate increase as well as currency revaluation may take their toll in ," the company said Monday The Chinese yuan weakened against the Hong Kong dollar in the second quarter, potentially restricting the spending power of tourists from the mainland visiting Hong Kong.

Chinese economic growth is also slowing, while global conditions could create further challenges in the coming months, Chow Sang Sang added Sales increased 19% to $1.22 billion for the six months ending June 30 as consumer sentiment remained robust in greater China despite the circumstances Revenue from the jewelry-retail segment grew 23% to $11 billion, with sales in Hong Kong and Macau up 24% due to increased tourism.

The company did not release detailed data for sales growth in mainland China during the period. . Source