HK-listed Budweiser APAC hits 14-mth low on Q2 profit miss

Reuters2021-07-29

** Shares of Budweiser Brewing Company APAC Ltd fall as much as 7.6% to HK$21.25, the lowest since May 29, 2020

** Stock is the biggest pct decliner in the benchmark Hang Seng Index and the third-biggest decliner in the Hang Seng Composite Index

** Net H1 profit rises to $503 mln from $185 mln a year earlier

** Q2 profit rises to $270 mln from $226 mln a yr earlier, but misses SmartEstimate forecast of $307 mln

** The Hong Kong composite Industry Index tracking consumer staples rises 1.6%, and the Hang Seng Composite Index surges 2.5%

** The Hang Seng China Enterprises Index climbs 2.4%, and the benchmark index gains 1.8%

** As of last close, stock fell 10.2% this year

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