G Sachs Maintains Neutral Rating on LUK FOOK HOLD with Target Price of HKD 23
Sales Growth in Mainland China: LUK FOOK HOLD reported a 31% same-store sales growth for its branded stores in mainland China for the third quarter of FY26, with self-operated stores achieving a 7% growth, returning to pre-pandemic levels.
Performance in Hong Kong and Macau: The same-store sales growth in Hong Kong and Macau increased from 11% to 16%, indicating a positive trend in these markets.
Market Outlook and Ratings: Goldman Sachs maintains a Neutral rating for LUK FOOK HOLD, with a target price of HKD23, citing the need to monitor sales resilience amid rising gold prices and weak consumer spending.
Short Selling Activity: The company experienced short selling of $930.38K, with a ratio of 7.883%, reflecting market sentiment towards its stock performance.
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Jewelry and Gold Mining Stocks Soar as Gold and Silver Prices Reach Record Highs; LAOPU GOLD Jumps 14% to Six-Month Peak
Gold and Silver Prices Surge: Gold futures in New York reached a historic high of USD5,080.1 per ounce, while silver futures peaked at USD107.925, reflecting significant increases in precious metal prices.
Jewelry Stocks Performance: Hong Kong-listed jewelry stocks, particularly LAOPU GOLD, experienced substantial gains, with expectations of strong sales during the Spring Festival due to high gold prices and promotional activities.
Gold Miners Thrive: Gold mining companies like ZIJIN MINING and ZHAOJIN MINING saw their stock prices rise significantly, benefiting from the increasing gold prices and high trading volumes.
Short Selling Activity: Various stocks in the jewelry and mining sectors showed notable short selling ratios, indicating a mix of investor sentiment and market speculation amidst the rising prices of gold and silver.
Jewelry and Gold Stocks Perform Well; LAOPU GOLD Rises Approximately 7%; LUK FOOK HOLD Reaches 7.5-Year High; CHOW TAI FOOK Remains Weak
Gold and Silver Prices Surge: Gold prices are nearing US$5,000 per ounce, with spot gold last quoted at US$4,944.08, while spot silver reached US$98.64 per ounce, reflecting significant increases in both metals.
Impact on Jewelry Stocks: The rise in gold prices has led to increased market expectations for gold product prices, positively affecting jewelry stocks in Hong Kong, particularly LAOPU GOLD, which saw a notable increase in its share price.
