Chemical producer China Sanjiang at 3-year low on weak H1 outlook

China Sanjiang Fine Chemicals

15/07/2019 03:18

** Shares of China Sanjiang Fine Chemicals Co Ltd  2198.HK 
fall as much as 14% to HK$1.41, their lowest since July 2016,
after ethylene oxide producer forecast sharp drop in first-half
profit
    ** Zhejiang-based firm expects profit for six months ended
in June to fall 80-90% from a year ago due to decrease in output
of major products amid regular maintenance process and fall in
selling prices of some of its products  urn:newsml:reuters.com:*:nFWN24D0BY
    ** The interim results will be published by end-August
    ** As of Friday's close, the stock had fallen 12.8% this
year
    ** China Sanjiang has underperformed the Hang Seng Commerce
& Industry Index sector  .HSNC  by 5.1 percentage points in the
past one month
    ** The Hang Seng China enterprises index  .HSCE  eases 0.6%,
and the benchmark index  .HSI  slides 0.7%

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