BUZZ-Sun Art Retail hits 14-month peak as Alibaba discusses stake sale

Reuters10-16

** Alibaba-backed hypermarkets operator Sun Art Retail Group

jumps 30.7% to HK$2.34, highest since August 2023

** Trade resumes on Wednesday after being on halt on Sept. 27 pending statements

** Stock third biggest pct gainer on Hang Seng Composite Index , which eases 0.4%

** Co's board gets approach letter expressing intent to make a pre-conditional voluntary conditional offer for its shares

** Alibaba Group's units are discussing the offer

** Co expects net profit of 150-200 mln yuan ($21-$28 mln) for six months ended in September vs year-ago net loss of 378 mln yuan

** More than 56 mln shares traded in stock's busiest day since Feb. 5

** Stock up 44.3% YTD

($1 = 7.1185 yuan)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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