China Cinda Asset Management falls on weak earnings outlook

China Cinda Asset Management

28/01/2025 02:04

** Shares of China Cinda Asset Management  1359.HK  fall
6.7% to HK$1.11, their lowest levels since Jan 16, and on course
for a second session of decline
    ** Stock posts its biggest intraday pct fall since Jan 2,
and is top pct decliner in Hang Seng Composite Index  .HSCIF ,
tracking financials, which slips 0.2% 
    ** The Chinese distressed asset management and financial
services group expects its 2024 net profit to drop 40%-50% Y/Y
amid decline in investment income of certain equity assets as
impacted by market conditions 
    ** Stock jumped 62.8% last year  

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))