HK-listed contract manufacturer BYD Electronic falls on weak H1

Byd Electronic (International)

22/08/2019 07:18

** Shares of BYD Electronic International Co Ltd  0285.HK 
fall as much as 8.9% to HK$11.04, lowest since Aug 15 
    ** Stock on track for 3rd consecutive session of decline 
    ** Guangdong-based contract manufacturer for electronic
posts 49.3% fall in H1 profit amid changing economic situation
and as China-U.S. trade frictions put industry under pressure
 urn:newsml:reuters.com:*:nFWN25H0JQ
    ** Co says competition in handset industry will deepen in H2
with global economy to be affected by trade conflicts, exchange
rate volatility, and political and economic risks
    ** Adds it will increase R&D investment and expand business
scope
    ** As of Wednesday's close, stock had risen 23.1% this year
    ** BYD Electronic International has outperformed the Hang
Seng Commerce & Industry Index sector  .HSNC  by 18.3 percentage
points in the past month
    ** The Hong Kong Hang Seng sub-index tracking information
technology firms  .HSCIIT  slides 0.2%
    ** The Hang Seng China enterprises index  .HSCE  eases 0.7%,
and the benchmark index  .HSI  falls 0.9%

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