BUZZ-Luxury stocks down again as China's yuan weakens

** Shares (Berlin: DI6.BE - news) in Swatch down 2.9 percent and Richemont down 3.4 percent at 0748 GMT

** Swatch Group makes one fifth of sales and Richemont makes 15 percent of sales in mainland China, according to Jon Cox, an analyst at Kepler Cheuvreux

** Swatch and Richemont are among the European blue chips with the greatest exposure to mainland China, Cox says

** Luxury goods took a major hit on the stock market on Tuesday after China's currency devaluation and fall further Wednesday as the yuan continued to weaken - all stocks down 2-3 pct

** Vontobel analyst Rene Weber calls Tuesday's decline an overreaction to the yuan news and confirms "buy" rating for Richemont and "hold" for Swatch

** Swatch said on Tuesday devaluation would help boost consumption in China

(RM (LSE: RM.L - news) ://brenna.neghaiwi.thomsonreuters.com@reuters.net)