HK-listed software group 360 Ludashi falls on weak earnings outlook

360 Ludashi Holdings

18/02/2021 03:05

** Shares of China's mobile device tool software developer
360 Ludashi Holdings Ltd  3601.HK  fall as much as 19.6% to
HK$4.30, on track to fall for a second straight session
    ** Stock last down 16.3%, on course for its worst day since
listing in October 2019; the eighth biggest percentage decliner
on the Hong Kong bourse 
    ** Sichuan-based company expects its 2020 net profit to fall
25%-35% from a year earlier due to a fall in advertising budget
of its domestic customers amid the outbreak of COVID-19
 urn:newsml:reuters.com:*:nFWN2KN0DQ
    ** Co says performance also hit by a fall in revenue from
online advertising services for overseas mobile devices business
due to trade disputes between China and the U.S. 
    ** The Hong Kong Hang Seng sub-index tracking information
technology firms  .HSCIIT  slips 0.6%, and the Hang Seng Tech
Index  .HSTECH  falls 1.8%
    ** The Hang Seng China enterprises index  .HSCE  eases 0.2%
and the benchmark index  .HSI  slides 0.5%
    

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)