HK-listed Hongqiao hits 14-month high on JV with Scholz China

Chiho Environmental

08/10/2020 08:34

** Shares of Chinese aluminum products maker Hongqiao
Investment (Hong Kong) Ltd  1378.HK  rise as much as 12.7% to
HK$5.67, their highest since Aug 1, 2019
    ** Stock last up 7.6%, on track for a third straight session
of gains and set for best day since Aug 25 
    ** The Shandong-based co says it will team up with Scholz
China GmbH, a unit of Chiho Environmental Group Ltd  0976.HK ,
to set up a joint venture in China's Binzhou City for vehicle
dismantling, scrap metals recycling, and for R&D of resource
recycling technologies  urn:newsml:reuters.com:*:nFWN2GX0XB
    ** Shares of metal recycler Chiho surge as much as 19.3%,
heading for the best day since Jan 20 
    ** The Hang Seng China enterprises index  .HSCE  eases 0.3%,
and the benchmark index  .HSI  slides 0.5%
    ** As of last close, Hongqiao stock up 7% this year 

 

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