Hong Kong Aerospace jumps most in over 5 months on S.America satellite deal

China Strategic Technology

17/10/2023 04:50

** Shares of satellite manufacturing, communication and
launching group Hong Kong Aerospace Technology  1725.HK  jump
21.4% to HK$6.35, their highest since Sept 7
    ** Stock marks the biggest one-day pct rise since May 10 if
gains hold
    ** Co says it has entered into contract with Alya Satelite e
Produção de Fotografias Aéreas LTDA, a private company
incorporated in Brazil in the space sector, for the construction
of the Alya-1 System
    ** Co will provide satellite network design, manufacturing
and launching in respect of the communication and remote sensing
satellite network in South America with the total contract price
amounting to $675 mln
    ** Hang Seng Tech Index  .HSTECH  gains 0.6%, while Hang
Seng Composite Index  .HSCI  and Hang Seng Index  .HSI  both add
0.7%

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