HK-listed China Merchants Land at 8-month high on robust earnings forecast

China Merchants Land

07/01/2020 02:40

** Shares of property development and asset management firm
China Merchants Land Ltd  0978.HK  surge as much as 10.6% to
HK$1.36, the highest since May 6, 2019
    ** Stock ranks the 9th most actively traded shares in early
trade
    ** Co expects to post at least 35% jump in 2019 net profit
from a year ago thanks to a surge in gross profit due to a rise
in total gross floor area of properties completed, an increase
in number of properties completed and delivered  urn:newsml:reuters.com:*:nFWN299084
    ** China Merchants Land has underperformed the Hang Seng
Commerce & Industry Index sector  .HSNC  by 3.0 percentage
points in the past one month
    ** The Hong Kong Hang Seng sub-index tracking property firms
 .HSNP  gains 0.7%% on Tuesday
    ** The Hang Seng China enterprises index  .HSCE  climbs
0.9%and the benchmark index  .HSI  gains 0.8%
     

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