HK-listed China State Construction climbs on solid Q3 growth

China State Construction International Holdings

24/10/2019 04:21

** Shares of China State Construction International Holdings
Ltd  3311.HK  rise as much as 3.2% to HK$7.74, their highest
since Sept. 24, after the group posts solid Q3 growth 
    ** Stock up for a third straight session
    ** Co says 9-month operating profit up 7.6% on year to
HK$6.25 bln ($797 mln), with revenue increasing 6.2% to HK$40.56
bln  urn:newsml:reuters.com:*:nFWN27702S
    ** Says accumulated new contract value amounts to HK$81.6
bln during the 9-month period
    ** Brokerage Daiwa maintains "outperform", saying it favours
co's solid revenue growth outlook and improving gearing and
cash-flow conditions 
    ** Daiwa says investor sentiment to recover in 2H19, as
policy measures for the infrastructure segment and an
improvement in liquidity conditions will provide support
    ** By Wednesday's close, China State Construction's stock
had risen 20.6% this year
    ** China State Construction has underperformed the Hang Seng
Commerce & Industry Index sector  .HSNC  by 3.7 percentage
points in the past month
    ** The Hang Seng China enterprises index  .HSCE  climbs
0.4%, and the benchmark index  .HSI  gains 0.3%
($1=7.8382 Hong Kong dollars)

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