Tsingtao Brewery's Hong Kong shares hit highest in six weeks

China Resources Beer Holdings Co

10/12/2021 06:33

** Hong Kong shares of Tsingtao Brewery Co Ltd  0168.HK 
rise as much as 3.6% to HK$70.95, reversing course to hit the
highest since Oct. 29
    ** Stock on course for fourth straight session of gains;
second most actively trade by turnover in early afternoon 
    ** Stock on track to end the week up more than 7.5%, the
best week since end-October
    ** Fosun Group has raised HK$2.5 bln ($320.6 mln) from a
block of 38 mln H shares in Tsingtao Brewery, according to
publication IFR  urn:newsml:reuters.com:*:nIfp5hgCFm
    ** The deal was priced at HK$66.10 per share, or a 3.5%
discount to Thursday's close of HK$68.50
    ** Tsingtao's Shanghai shares  600600.SS  slip 0.7%
    ** Daiwa maintains "neutral" on China beer sector, saying
Chinese beer players will ride on the premiumisation and
digitalisation trends and catch up in terms of profitability
    ** Rival China Resources Beer  0291.HK  eases 0.2%  
    ** Hang Seng Commerce & Industry Index  .HSNC  slips 1% and
the Composite Industry Index tracking consumer staples  .HSCICS 
eases 0.5%
    ** The Hang Seng China Enterprises Index  .HSCE  and Hang
Seng Indx  .HSI  both slide 0.7%
    ** Tsingtao's Hong Kong shares had fallen 15.6% this year,
as of last close 


($1 = 7.7989 Hong Kong dollars)

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