The September Hong Kong Jewellery & Gem Fair opened Monday, in its new, split location format. Diamond traders are reporting decent but not very enthusiastic trading, contrary to the hopes expressed as late as last week.

Diamonds, pearls, gemstones, equipment and packaging companies are located this year at the AsiaWorld-Expo (AWE) by the airport, while fine jewelry exhibitors are showcasing at the Hong Kong Convention & Exhibition Centre.

The completion of the expansion works at HKCEC just a few months ago has enabled fair organizers to respond to demands for additional exhibition space from jewelry and diamond companies.

The Fair’s exhibition space in both venues is up to 120,000 square meters and the number of exhibitors is up 16 percent. Over 3,000 exhibitors from 44 countries and regions are participating, making it according to organizers the biggest fine jewelry event worldwide.

In terms of the diamond trade, buyers are looking for G-I/VS goods, typical items for the Chinese market. Larger diamonds in higher SI1-VS2 clarities as well as fancy color goods are also sought after, however traders are not yet reporting large business volumes. Many oversea buyers are looking for bargains in return for cash.