Online reading platform China Literature at all-time low after weak H1

China Literature

13/08/2019 07:30

** Shares of online literary reading and writing platform
China Literature Ltd  0772.HK  fall as much as 18.2% to
HK$23.90, their lowest since co listing in November 2017 
    ** Stock ranks the fifth-biggest percentage decliner in the
afternoon trade, on track to end a three-session gaining streak 
    ** Co, backed by Tencent  0700.HK , posts a 30.1% rise in
revenue for first six months of 2019, but a 22.4% fall in net
profit amid rise in finance costs, and increasing selling,
marketing and administrative expenses  urn:newsml:reuters.com:*:nFWN25700V 
    ** As of Monday's close, stock down 19.6% so far this year
    ** China Literature has underperformed the Hang Seng
Commerce & Industry Index sector  .HSNC  by 11.9 percentage
points in the past one month
    ** The Hong Kong Hang Seng sub-index, tracking information
technology firms  .HSCIIT , eases 1.3%
    ** The Hang Seng China enterprises index  .HSCE  slides
1.4%, and the benchmark index  .HSI  falls 1.7%

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