HK-listed Smoore falls as Hong Kong ups tobacco duty; rivals slip

China Tobacco International (HK)

22/02/2023 06:06

** Shares of Chinese vaping device maker Smoore
International Holdings  6969.HK  leads fall in Hong Kong-listed
tobacco products firms
    ** Smoore down as much as 3% to HK$9.68, the lowest since
Nov. 2, after the financial hub increases tobacco duty 
        ** Hong Kong increases tobacco duty on cigarettes by
HK$0.6 per stick with immediate effect while duties on other
tobacco products will be increased by the same proportion, the
city's  financial Secretary Paul Chan announced in the 2023/24
budget on Wednesday
    ** Hong Kong forecast a deficit of HK$54.4 billion  ($6.93
billion) in 2023-24
    ** Shares of rivals climb with China Boton Group  3318.HK ,
Huabao International  0336.HK  and China Tobacco International
 6055.HK  slip between 0.2% and 1%
    ** Hang Seng Consumption Index  .HSCGSI  eases 0.8%, Hang
Seng Composite Index  .HSCI  slips 0.5%, and Hang Seng Index
 .HSI  down 0.2%
($1 = 7.8451 Hong Kong dollars)
 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))