---
title: "In \"The Big Banks,\" China International Capital Corporation (CICC) has listed LUK FOOK HOLD as the industry’s top pick, raising the target price to 35.9 yuan"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/274613511.md"
description: "Bank of China International has listed LUK FOOK HOLD as its top pick in the industry, raising the target price to 35.9 yuan. Despite fluctuations in gold prices, the bank expects strong gold jewelry consumption in the first quarter of this year, benefiting from the wealth effect of the stock market and a loose monetary environment. High-end retailers and those with a strong market presence in Hong Kong and Macau will be significant winners"
datetime: "2026-02-03T07:05:57.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/274613511.md)
  - [en](https://longbridge.com/en/news/274613511.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/274613511.md)
---

# In "The Big Banks," China International Capital Corporation (CICC) has listed LUK FOOK HOLD as the industry’s top pick, raising the target price to 35.9 yuan

Bank of China International published a report stating that despite recent fluctuations in gold prices, the bank expects gold and jewelry consumption to remain strong in the first quarter of this year. The wealth effect brought by the stock market, combined with a more accommodative monetary environment, will further drive consumers to choose jewelry as a means of value storage and investment.

In the current market landscape, the bank anticipates two significant winners, including high-end retailers that can support high premiums, represented by Lao Pu Gold (06181.HK); and retailers with a strong market presence in Hong Kong and Macau, where store traffic has significantly increased since the gold value-added tax was raised in November 2025.

Based on this analysis, the bank has listed LUK FOOK HOLD (00590.HK) as the industry's preferred stock and raised its target price to HKD 35.9

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