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"E-commerce boom is fueling the jewelry industry turnaround," said Neil Wang, president of consulting firm Frost & Sullivan China. "More traditional jewelry groups such as Chow Tai Fook, Chow Tai Seng and Swarovski have stepped into the online retail business, where they saw a better performance.

"Even if the worst happens, the impact could be limited," he said.

"E-commerce platforms like Taobao offer consumers a great platform where they can compare prices from different stores for the same product, and choose one with lower prices and better customer reviews. Large-sized stores can leverage their strengths in capital, supplies (lower costs as they buy in bulk), and marketing channels to easily achieve the goal to win more consumers on Singles Day sales," Lu said.

"Due to the installation of defeat devices, the actual operation of the vehicles can result in higher than anticipated NOx emissions", a BKA statement read.

"Despite global uncertainty and tightening in US monetary policy, which have pushed down some of the emerging market currencies, the 21st century is still likely to be the Asian century," said Douglas McWilliams, CEBR deputy chairman and founder.