An elderly woman has been arrested on suspicion of stealing valuables worth around HK$41,000 from a jewellery store in Cheung Sha Wan.

Police were called to the shop on Castle Peak Road on Monday morning after a woman made off with a pair of gold bracelets and a gold necklace.

At about 7pm the same day, officers investigating the incident arrested a 73-year-old woman in Yuen Long.

The stolen items have been recovered, police said.