On October 9, CHOW TAI FOOK rose 3.24% in regular trading, trading at HK$11.15, with Turnover of HK$139 million.
The stock gained after Hong Kong Stock Exchange disclosures showed Chairman Henry Cheng Kar-Shun increased his stake in the company on October 5, buying 181,000 shares at an average price of HK$10.789 each for a total consideration of approximately HK$1.95 million. This raised his total holdings to 30.55 million shares, representing a 0.31% stake.
The purchase marks the latest in a series of accumulations by the chairman since late September, with cumulative investment exceeding HK$50 million. Concurrently, domestic branded gold jewellery prices broadly rose on October 9, with CHOW TAI FOOK's listed gold price reaching RMB 1,255 per gram, up RMB 6 from the previous day. The combined effect of insider buying and firmer gold prices lent support to the share price.
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