HK-listed China Tobacco hits near 3-month peak on upbeat earnings forecast

China Tobacco International (HK)

08/06/2023 03:52

** Shares of China Tobacco International HK Co Ltd  6055.HK 
 surge as much as 20.9% to HK$11.28, their highest since March 9
    ** Stock of the cigarettes and tobacco leaf products
importer and exporter on course for the biggest one-day pct rise
since July 2019, if gains hold
    ** Stock is the biggest pct gainer in Hang Seng Composite
Index  .HSCI  and seventh biggest pct gainer on the Hong Kong
bourse 
    ** Company expects its revenue for six months ending in June
to jump not less than 95% YoY and profit attributable to the
owners to increase not less than 100% YoY, thanks to an increase
in import volume of tobacco leaf products  
    ** Says a recovery in the number of cross-boundary tourists 
also helped to boost its cigarettes export business 
    ** The Hang Seng Commerce & Industry Index  .HSNC  declines
1% and the Hang Seng Consumption Index  .HSCGSI  falls 0.6%
    ** The Hang Seng Composite Index  .HSCI  eases 0.4% and the
Hang Seng Index  .HSI  slips 0.3%
    ** As of last close, China Tobacco had dropped 19.9% this
year

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