Hong Kong Aerospace falls as deal to develop Djiboutian spaceport lapses

China Strategic Technology

14/04/2023 03:12

** Shares of printed circuit board assembly electronic
products manufacturer Hong Kong Aerospace Technology Group Ltd
 1725.HK  fall as much as 8.3% to HK$10.10, their lowest since
April 11
    ** Stock biggest pct decliner in the Hang Seng Composite
Index  .HSCI  and in the Hang Seng Composite Index on
industrials  .HSCIIG 
    ** Guangdong-based firm says a memorandum of understanding
regarding cooperation (MoU) in development of an international
commercial spaceport in the Republic of Djibouti has lapsed and
ceased to have any effect
    ** Says the MoU has lapsed as a project company to sign a
formal contract with the Republic of Djibouti has not been set
up 
    ** Says the lapse of the MoU does not have any material
adverse impact on co's business operation and financial position
    ** The Hang Seng Composite Index on industrials rises 0.8%,
the Hang Seng Composite Index gains 0.7% and the Hang Seng Index
 .HSI  climbs 0.5%
    

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