HK-listed China Huarong Asset Management jumps on upbeat earnings outlook

China CITIC Financial Asset Management

23/01/2024 01:45

** Shares of China Huarong Asset Management Co Ltd  2799.HK 
jump 16.9% to HK$0.38, their highest since Jan 16, and on course
to snap two straight sessions of decline
    ** Stock is the biggest percentage gainer in Hang Seng
Composite Index  .HSCIF , which tracks financials 
    ** The asset management co says it estimates its 2023 net
profit to be in the range of 1 bln to 2 bln yuan
($139.04-$278.09 mln), versus a net loss of 27.58 bln yuan in
2022 
    ** The Hang Seng Composite Index climbs 0.5%, while Hang
Seng Composite Index  .HSCI  and Hang Seng Index  .HSI  both
gain 0.7%
    ** China Huarong stock down 12.5% YTD 

   ($1 = 7.1920 Chinese yuan)

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