HK Stock Market Move | CHOW TAI FOOK (01929) rises more than 3% as the company claims that the impact of tariffs is relatively small due to low proportion of business in the US. Prices have been increased by 10-20% within the year.

CHOW TAI FOOK (01929) rose more than 3%, closing at a 3.18% increase to 9.08 Hong Kong dollars with a trading volume of 73.8484 million Hong Kong dollars. On the news front, according to market reports, recently, CHOW TAI FOOK's Executive Director, Mr. Adrian Cheng, said in a media interview that the U.S. tariffs on China are a short-term impact, and as the market gradually adapts to the tariff challenges, consumers will eventually return to buying gold. Mr. Cheng mentioned that the U.S. tariff issue mainly affects the goods sold by CHOW TAI FOOK to the U.S. market, but since the group's business in the U.S. is relatively small, he believes that the U.S. tariffs have almost no impact on CHOW TAI FOOK. He said that the group's international sales network mainly targets Southeast Asian regions such as Singapore, Malaysia, and Thailand. In addition, Mr. Cheng revealed that CHOW TAI FOOK has already raised prices once this year, with the price increase ranging from 10% to 20%. He also mentioned that in the short term, there is no sign of a trend of local residents in Hong Kong traveling north to consume gold products, mainly due to factors such as tax-free shopping for high-end jewelry in Hong Kong and the concentration of sources. However, in the long run, gold products at ordinary prices have the opportunity to benefit from the trend of mainland Chinese tourists traveling to Hong Kong, such as some collaborative IP products that are only sold in mainland China.