BUZZ-Sinotruk jumps most in over 5 years on robust earnings outlook

Reuters01-24

** Shares of Sinotruk Hong Kong Ltd jump 21.2% to HK$17.48, on course for the biggest one-day pct rise since September 2018

** Stock hit the highest since Nov 20; biggest pct gainer in Hang Seng Composite Index on industrials and in Hang Seng Composite Index

** Chinese heavy duty trucks manufacturer expects its 2023 net profit to jump 200%-240% YoY as demand for heavy duty truck is seen improving thanks to steady improvement of domestic macroeconomic economy and an increasing demand in overseas markets

** Hang Seng Composite Index tracking industrials rises 1.7%, Hang Seng Composite Index gains 1.4% and Hang Seng Index adds 1.5%

** Stock up 13.3% YTD

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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

We need your insight to fill this gap
Leave a comment