HK restaurant chain Tai Hing at near 6-week high, Nomura initiates with "buy"

Cafe De Coral Holdings

13/09/2019 05:59

** Restaurant chains operator Tai Hing Group Holdings Ltd
 6811.HK  rises as much as 11.2% to HK$1.99, its highest since
August 5 
    ** Brokerage Nomura initiates with "buy" rating on Hong
Kong-based co
    ** Impact from recent protests in the city on Tai Hing
should be insignificant, with the co posting low-single-digit
drop in latest store sales growth in the region vs a 30-50%
decline for other retailers - Nomura 
    ** Stock on track for fourth consecutive session of gains
and posts biggest intraday percentage gain in almost three
months
    ** Nomura also rates Tai Hing's bigger rival, Cafe De Coral
Holdings  0341.HK , "buy" as the firms may take advantage of the
current situation to renegotiate rents, and as they are not
heavily reliant on tourist inflows due to resilient local demand
    ** Shares of Cafe De Coral climb 1.2% on the second session
of gain
    ** The Hong Kong benchmark index  .HSI  climbs 0.4%


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