BUZZ-China BlueChemical sinks to 7-month low on weak earnings outlook

Reuters07-23

** Shares of fertilizers producer China BlueChemical Ltd

sink 9% to HK$1.92, their lowest since Dec 29, and on track for a third straight session of decline

** Stock marks biggest intraday pct fall since June 4

** Co expects H1 net profit to drop to 670 mln-700 mln yuan ($92.1- $96.2 mln) from 1.72 bln yuan profit in a year-earlier period, amid decrease in sales of urea and decline in prices of its phosphate fertilisers, compound fertilisers and urea

** Hang Seng Commerce & Industry Index eases 0.6% and Hang Seng Index slips 0.1%

** Stock up 7.1% YTD

($1 = 7.2735 Chinese yuan)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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