HK's GOME eyes best day in 5 months on deal to form supply chain sharing centre

Reuters2021-07-23

** Shares of China's electrical appliances retail chain operator GOME Retail Holdings Ltd rise 12.1% to HK$1.02, on course for the best day Feb. 25

** Stock hit the highest since July 2, extending gains for the third straight session; it's the top gainer in the Hang Seng Composite Index and the seventh biggest gainer on the Hong Kong bourse

** GOME says its unit has teamed up with a subsidiary of state-owned Shenzhen Investment Holdings Co Ltd and Eternal Asia Supply Chain Management Ltd for the formation of a commodity supply chain sharing centre, retail platform and smart production chain centered around the Bay Area

** Shenzhen shares of Eternal Asia rise 5.1%

** The Hong Kong Hang Seng Commerce & Industry Index slips 0.7% and the Hang Seng consumer goods and services index eases 0.8%

** The Hang Seng Composite Index slides 0.7%

** Both the Hang Seng China Enterprises Index and the benchmark index eases 0.8%

** As of last close, stock of Beijing-based GOME had slid 2.2% this year

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Leave a comment
9