HK-listed China Resources Beer hits near 3-week high on upbeat earnings outlook

China Resources Beer Holdings

20/07/2021 05:07

** Shares of China Resources Beer Holdings Co Ltd  0291.HK 
rise as much as 4.7% to HK$70.65, their highest since June 30
    ** Stock up after three consecutive sessions of decline
    ** Chinese brewer expects H1 net profit to jump not less
than 100% from a year ago  urn:newsml:reuters.com:*:nFWN2OT0A7
    ** Says jump is due to compensation gain on transfer of land
it owned, and a rise in gross profit on higher volume and prices
of product sales 
    ** The Hong Kong composite Industry Index tracking consumer
staples  .HSCICS  gains 0.3%, while the composite industry index
tracking conglomerates  .HSCIC  declines 1.7%
    ** The Hang Seng China Enterprises Index  .HSCE  drops 1.5%,
and the benchmark index  .HSI  falls 1.2%
    ** By last close, the stock had slid 5.5% this year

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