BUZZ-Zhuzhou CRRC Times Electric jumps most in 3-1/2 months on robust forecast

Reuters07-18

** Shares of rail transit equipment maker Zhuzhou CRRC Times Electric Co Ltd jump 6.7% to HK$29.60, on track for the biggest one-day pct gain since April 2

** Stock on course to snap three consecutive sessions of fall

** Co expects H1 net profit to jump 30.6% Y/Y to 1.51 bln yuan ($208.14 mln) as railway investment grows and passenger traffic recovers with growth in emerging equipment business and rail transit products delivered

** Hang Seng Commerce & Industry Index climbs 0.4%, index tracking industrials adds 0.8% and Hang Seng Index up 0.5%

** Stock up 28.3% YTD

($1 = 7.2549 Chinese yuan renminbi)

(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