Far East trading quiet during Chinese New Year. Market cautious due to weak demand, tight profitability and reduced bank credit. Selective buyers creating shortages of excellent-cut (3X, none) diamonds, but prices of lower-quality goods softening due to excess supply. 1 ct. RAPI -0.4% in Jan. Manufacturers maintaining low production as profit margins are squeezed by high rough prices. Letšeng 4Q sales -40% to $42M, average price -43% to $1,259/ct. Belgium 2018 rough imports flat at $10.7B. Pandora 2018 sales flat at $3.5B, profit -13% to $773M. RapNet introduces jewelry to trading network. The Rapaport Group wishes all our friends a happy and successful Chinese New Year.