Johannesburg - Shares of luxury goods retailer Richemont
[JSE:CFR] fell as data showed Swiss watch exports dropped for the first time in
two-and-a-half years in September, hit by slowing Chinese demand.
Strong Asian demand for luxury watches had helped companies
such as Swatch Group and Richemont sail relatively unscathed through the
economic turmoil. However, Swiss exports to China fell by 16.3% in September.
Richemont shares are down 3.8% at R55.60, making it the
worst performing share on the Top 40 - (Tradeable) [JSE:J200] index which has
shed 0.4% so far this morning.