China's dairy group Inner Mongolia Yili plunges on weak Q3, rival Mengniu dips

China Mengniu Dairy

28/10/2022 07:46

** Shares of Chinese dairy products and milk powder producer
Inner Mongolia Yili Industrial Group Co Ltd  600887.SS  drop 10%
to 25.88 yuan, lowest since Feb. 2019, in their third straight
session of decline
    ** Inner Mongolia Yili says its Q3 net profit down 26.5%
year-on-year while revenue up 6.7% 
    ** Tracking slumps in Yili, rival China Mengniu Dairy
 2319.HK  plunges as much as 10.8% to HK$24.90, lowest since
March 2020
    ** Mengniu shares on course for biggest daily pct fall since
Dec. 2011 if losses hold; 
    ** Stock biggest pct loser in Hang Seng Commerce & Industry
Index  .HSNC  and second biggest decliner in Hang Seng Index
 .HSI 
    ** The blue-chip CSI 300 Index  .CSI300  drops 2.1%, the
Shanghai Composite Index  .SSEC  loses 1.9%, and consumer
staples  .CSICS  loses 2.2%
    ** In Hong Kong, Hang Seng Commerce & Industry Index  .HSNC 
drops 4.9%, index tracking consumer staples  .HSCICS  falls 4.6%
    ** Hang Seng Composite Index  .HSCI  falls 3.9% and Hang
Seng Index  .HSI  is down 3.7%
 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))