Chinese cement maker CNBM rises after chairman's upbeat comment

China Resources Building Materials Technology Holdings

29/06/2018 07:28

** Shares of China National Building Material Co Ltd
 3323.HK  (CNBM) rise nearly 7 pct to HK$7.67, outpacing a 1.4
percent rise in benchmark Hang Seng Index  .HIS 
    ** Chairman of China's biggest cement group says co is
having a good first half and the sector should withstand
pressures from a trade dispute with the United States and
volatile markets  urn:newsml:reuters.com:*:nL8N1TU5GF
    ** Chairman says underlying strong domestic demand for
cement as more cities and residences are to be developed will
support the industry
    ** As of 0607 GMT, about 36.8 mln shares of the
Beijing-based company change hands, compared with the 30-day
moving average of 39.24 mln shares a day
    ** Of the 16 analysts covering CNBM, the current average
rating is "buy"; the breakdown of recommendations is nine
"strong buy" or "buy", five "hold" and two "sell" or "strong
sell". Mean price target HK$9.48 
    ** China Resources Cement Holdings Ltd  1313.HK  rises 5.6
pct, while Anhui Conch Cement Co Ltd  0914.HK  climbs 2.6 pct

 (RM: donny.kwok.thomsonreuters.com@reuters.net)