A lot has been at stake for the September Hong Kong fair given the current political unrest. Speculations were rife about the prospect of the show because of the ongoing local protests against the government and the US-China trade war. There had been requests from the GJEPC as well as the Antwerp Diamond Centre to postpone the show, but Informa Markets, which organizes the show rejected the requests as the continuity of the show was important for the health of the local businesses.
As many companies avoided participating and some buyers too have not participated in the show because of the local protests, the expectation as such was below average.
The show marked its beginning with far less visitors as compared to the previous years, but exhibitors claimed that the response has not been bad. The gemstone pavilion was especially buzzing with serious activity. All the major international brands including Full Richmond Group were seen on the floor for buying.
Response for loose diamonds was relatively slow but exhibitors were optimistic. Buyers were heard saying that many exhibitors didn’t display big stones or high price merchandise because of insurance issues. Hence a lot of small goods, stones with low colour and clarity were on display.
The local players were happy that the show took place amidst all the tension – had it not happened, it would’ve been worse and resulted in recession in an already slow market, they said. The show will definitely aid in bringing more business and will keep the offices busy for the next couple of months, the locals said. Considering this is the last show of the year, and as it is positioned ahead of festive season, it definitely worked as an impetus to the markets that is currently going through a slowdown.
With all the obstacles and a global economic meltdown, the September Fair which runs till Friday, is definitely off to a decent start.