BUZZ-China's Harbin Electric hits 11-month peak on robust earnings estimate

Reuters07-16

** Shares of Chinese power equipment manufacturer Harbin Electric Co Ltd jump 16.7% to HK$3, their highest since Aug. 4, 2023

** Stock on course for the biggest one-day rise since Jan. 29, top gainer on the Hong Kong bourse

** Co expects its H1 net profit to jump to 530 mln yuan ($73 mln), from 85 mln yuan profit in a year ago period, thanks to significant increase in scale of operating revenue and increase in gross profit margin as marekt develops

** Hang Seng Commerce & Industry Index slips 0.9%, index tracking industrials down 0.4% and Hang Seng Index falls 1%

** Stock up 36.7% YTD

($1 = 7.2592 Chinese yuan renminbi)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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