Reuters: Global Markets: Samsonite shares regain some ground lost on chemicals report

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Samsonite shares regain some ground lost on chemicals report Jun 18th 2012, 02:22 HONG KONG | Sun Jun 17, 2012 10:22pm EDT HONG KONG (Reuters) - Samsonite International (1910.HK) stock climbed 8.4 percent, regaining about half the ground they lost on worries over safety on Friday, helped by a company statement that its luggage was safe. Samsonite shares fell more than 16 percent on Friday after Hong Kong's consumer products watchdog said it found parts of certain suitcases containing high levels of chemicals that may be carcinogenic. The world's biggest luggage maker said in a statement its products were safe and the incident would not have any material impact on results. The stocks were trading at HK$13.18. That compared with a 1.8 percent gain for the benchmark Hang Seng Index .HSI. Samsonite said it has already withdrawn its Tokyo Chic luggage from all of its points of sale in Hong Kong, and will arrange to replace the side-carrying handles of its Tokyo Chic luggage with the next generation handle for concerned customers in the Hong Kong market.

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