Hong Kong is following other countries to reopen part of the city to allow some workers to return to office.
Food is an important and necessary part of office workers life. I mean, they have to take their lunch, coffee breaks, dinner ,etc. So, what business will come to their rescue ? That's right ! Food and beverage business, the restaurant. But not just any restaurant.
Some may be concerned with the loss of profits and stay away from this counter. That is understandable.
Business will resume as the locals like to return to their familiar restaurant and Cafe de Corals with is numerous outlets will have this advantage.
If not for the lockdown due to Covid-19, the restaurant will continue to have its soaring business, thus this profit loss is a one-off event and not due to the change in the nature of business,eg. acquisition or expanding into new food segment.
Food is an important and necessary part of office workers life. I mean, they have to take their lunch, coffee breaks, dinner ,etc. So, what business will come to their rescue ? That's right ! Food and beverage business, the restaurant. But not just any restaurant.
Some may be concerned with the loss of profits and stay away from this counter. That is understandable.
Business will resume as the locals like to return to their familiar restaurant and Cafe de Corals with is numerous outlets will have this advantage.
If not for the lockdown due to Covid-19, the restaurant will continue to have its soaring business, thus this profit loss is a one-off event and not due to the change in the nature of business,eg. acquisition or expanding into new food segment.
Comment:
we added more today
Comment:
16 is the resistance as you can see it has been tested multiple times. As it has break out of the bearish trend line, the probability of it going higher than 16 is present. From price action angle, we are also witnessing a higher low now.
Hong Kong's restaurant stocks gained on hopes of easing coronavirus restrictions.
The city has not recorded a locally transmitted infection for 15 days in a row. Chief Executive Carrie Lam Cheng Yuet-ngor will announce the relaxation of some Covid-19 social-distancing measures, allowing groups of up to eight people to gather in public places and restaurants, the Post reported earlier, citing government sources.
The current ban on gatherings of more than four people will expire on Thursday.
Cafe De Coral (341 HK) surged 4.5 per cent to HK$16.10, while Fairwood (52 HK) jumped 2.8 per cent to HK$19.20. Chinese hotpot restaurant chain Haidilao (6862 HK) rose 1.5 per cent to HK$33.65. Japanese ramen restaurant Ajisen (538 HK) advanced 1.2 per cent to HK$1.72.
-- Gigi Choy
Source : SCMP