Chinese jeweller Chow Tai Fook said fourth quarter revenue increased 22 per cent as trading in the mainland recovered.

The gradual improvement in consumer sentiment in mainland China supported its growth there, with same store sales growth 15 per cent.

However, weaker customer traffic in Hong Kong and Macau caused same store sales to fall nine per cent year on year.

“A surge in demand last year due to falling gold prices and current softening demand in Hong Kong and Macau would make future sales comparisons challenging,” commented Gloria Tsuen, an analyst at HK Capital Markets.