|As the 30th edition of the Hong Kong Gem and Jewellery Fair, which opened on March 5 continues until March 9, it brings some fresh breeze of optimism.|
Organisers of the show claim this year witnessed a record number of exhibitors -3,300 exhibitors from 49 countries and regions. Also buyer turnout has been wonderful, reemphasizing the importance of the Asian markets and a return of interest in the markets. Diamond business at the show does seem to smile. Demand for polished diamonds has been good, although prices are not very much in sync with the buyers demand.
But the fact that diamonds are in demand indicates that there is some restocking of inventory, and movement is taking place. The Asian markets have been key drivers of the industry demand in the past few years, and have also been sharing stress of economic upheavels and high diamond prices and low demand. Last year, business was very sluggish. But as demand is picking up at the show, with Chinese buyers also coming forth in large numbers, there is a hope that enthusiasm at the show paves way for a new turn in the industry to move in the positive direction.