Hong Kong retail sales rose 1.8% YoY in July to HK$29.7 billion ($3.8 billion), the third consecutive monthly increase. July visitor arrivals climbed 12% YoY to 4.39 million, with mainland Chinese visitors up 11.8% to 3.51 million. Jewelry, watch, and clock sales surged 9.4% YoY versus June’s 6.9% rise. However, year-to-date retail sales remain down 2.6% in value terms. Many mainland visitors are day-trippers with limited spending, while Hong Kong residents increasingly shop across the border due to the Hong Kong dollar’s strength against RMB.