Morning Bites (part 1)

💍Hong Kong jewellery and watch sales gained 9% YoY in October, vs. the revised +10% YoY in September, per government data. According to Rapaport, the recovery in local sales continued amid improved consumer confidence and overall solid inbound tourism trends (the number of Mainland visitors was up 10% YoY in October)

We maintain our cautious view on the medium-term prospects for global diamond market recovery, given risks to supply discipline (until De Beers spin-off, as it continues to trade even at weak prices) and concerns about a global trade war

#diamonds