In "The Big Banks," China International Capital Corporation: After China announced the new regulations on gold value-added tax, the industry's decline was too large. We continue to be optimistic about CHOW TAI FOOK and LUK FOOK HOLD

Bank of China International published a research report indicating that after the Chinese government announced new regulations on the value-added tax for gold, the stock prices of gold and jewelry retailers significantly corrected. Although the bank expects the policy to have a mild negative impact on industry profits, with earnings per share likely to see a mid-single-digit decline, it believes that the current stock price correction is excessive and mainly due to the combined effects of other factors, such as falling gold prices and profit-taking during the U.S. government shutdown.

The bank remains optimistic about CHOW TAI FOOK (01929.HK) and LUK FOOK JEWELRY (00590.HK), both rated "Buy," with target prices of HKD 17.8 and HKD 23.8, respectively, and expects that the upcoming interim results from both companies will help alleviate investor concerns