Chow Tai Fook Jewellery shares fall after profit warning

Shares in Chow Tai Fook Jewellery fell yesterday as alarmed investors shed their holdings after a profit warning, which came within a year of its listing.

The stock dropped 5.6 per cent to HK$10.18, a day after the company announced that its gross profit margin could contract by 2 to 3 per cent for the six months to September, citing losses related to gold hedging and a slowdown in the retail market as the key reasons for the poor earnings outlook.

via Business feed http://www.scmp.com/business/companies/article/1078995/chow-tai-fook-jewellery-shares-fall-after-profit-warning