BUZZ-Fast Retailing's HK shares at 10-wk peak on earnings beat, strong outlook

Reuters07-12

** Hong Kong shares of Fast Retailing climb 1.2% to HK$21.75, their highest since April 30

** The Japanese operator of fashion giant Uniqlo on Thursday raised its full-year operating profit forecast to 475 bln yen ($2.94 bln) for what would be its third consecutive year of record profits, buoyed by strong sales at home and some overseas markets

** For the most recent quarter ended in May, Fast Retailing's operating profit rose 31% Y/Y to 144.7 bln yen, beating consensus forecast of 127.1 bln yen

** Fast Retailing shares in Japan drop 4.3%, tracking a 1.9% fall in Nikkei 225 Index

** In Hong Kong, Hang Seng Consumption Index surges 2.8% and Hang Seng Index rises 2.1%

** Hong Kong-listed stock up 9.1% YTD

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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