HK's China Merchants Land hits near 10-mth high on Q1 sales growth

China Merchants Land

08/04/2019 03:41

** Shares of China Merchants Land Ltd  0978.HK  climb as
much as 5 pct to HK$1.47, the highest since June 25, 2018, after
the property developer posts improved sales in Q1
    ** The Hong Kong-based property firm posts an 11 pct
year-on-year growth in aggregate contracted sales at 5.96
billion yuan ($887.34 million) for Jan-Mar quarter  urn:newsml:reuters.com:*:nFWN21P00A
    ** That compared with a 11 pct fall in aggregate contracted
sales for Jan-Mar quarter in 2018  urn:newsml:reuters.com:*:nHKSbHGTlm
    ** As of last close, the stock has risen 27.3 pct so far
this year
    ** China Merchants Land has outperformed the Hang Seng
Commerce & Industry Index sector  .HSNC  by 5.9 percentage
points in the past one month
    ** The Hong Kong Hang Seng sub-index tracking property firms
 .HSNP  eases 0.2 pct, while the Hang Seng China enterprises
index  .HSCE  climbs 0.6 pct
    


($1 = 6.7167 Chinese yuan renminbi)

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