China Starch hit near 5-mth low on weak earnings outlook

China Starch Holdings

21/06/2018 03:13

** Shares of China Starch Holdings Ltd  3838.HK  fall 8.6
pct to HK$0.265, their lowest since Feb. 9
    ** The Chinese cornstarch manufacturer, with market value of
$206 million, expects its net profit for the January-May period
to fall 40 percent from a year ago as its product prices failed
to catch up with the increase in production costs  urn:newsml:reuters.com:*:nFWN1TM0AL
    ** Company is due to publish its first-half results in
August
    ** As of 0204 GMT, about 6.9 mln shares change hands,
compared with their 30-day moving average of 2.73 mln shares a
day
    ** The Hong Kong benchmark index  .HSI  rises 0.4 pct


($1 = 7.8448 Hong Kong dollars)

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