Steelmaker China Oriental set for best day in over 5 mths on upbeat HY outlook

China Oriental

13/08/2021 04:11

** Shares of iron and steelmaker China Oriental Group Co Ltd
 0581.HK  jump as much as 14.2% to HK$2.81, biggest daily
percentage gain since March 3
    ** Stock biggest percentage gainer on both the Hang Seng
Composite Index  .HSCI  and Hang Seng material index  .HSCIM 
    ** Co expects its net profit for six months ended in June to
jump 85%-115% year on year due to strong demand in  domestic
steel market, an increase in steel products prices and
production capacity on completion of equipment upsizing project
 urn:newsml:reuters.com:*:nFWN2PJ0F8
    ** Stock hits highest since May 21
    ** Hong Kong's material index  .HSCIM  rises 1.4% while the
Hang Seng Composite Index  .HSCI  slips 0.5%
    ** The Hang Seng China Enterprises Index  .HSCE  slides 0.9%
and the benchmark index  .HSI  eases 0.5%
    ** As of last close, the stock had surged 19.4% this year 

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