Morning Bites (part 1)

💍Hong Kong jewellery and watch sales rose 25% YoY in January, decelerating from the +50% YoY in December, according to the government data. However, the strong dynamics were mostly due to the low base effect: HK’s border with the Mainland fully reopened in February 2023, a fact which we see limiting further YoY sales growth in the upcoming months. Meanwhile, if the sentiment remain strong on the key US and Chinese markets (jointly ~65% of the world's gem-set jewellery trade), this might speed up the industry's stock release and add support to the stressed diamond sector, we believe

#diamonds
https://metals-wire.com/sector/Diamonds