Strong Traffic Raises Expectations for Hong Kong Show

The Hong Kong International Jewellery Show opened on Thursday with strong visitor traffic as buyers sought clarification on polished diamond price levels, Rapaport reported. Demand on the first day was better than expected, although the trade came into this show with low expectations.
Exhibitor feedback indicated that buyers were shopping around and testing prices and that had not yet translated into actual sales, as is typical in the first day of a large trade event. But the strong traffic has raised expectations for the weekend.
The Hong Kong Trade Development Council (HKTDC), which organizes the February show, reported that 3,100 exhibitors from 48 countries are participating in the event, setting a new record.
Polished markets have been relatively quiet since the U.S. holiday season and Chinese New Year as caution about the global economy and uncertainty in the Indian market took its toll. Many in the trade have noted that there are still large quantities of polished and rough diamonds in the market and that retailers lack the urgency to buy. They have also noted that much hinges on the Hong Kong show as they hope Far East demand will lift trading and give the market a much needed boost for the remainder of the first quarter.
The show is taking place at the Hong Kong Exhibition Centre from February 16 to February 20.