China Traditional Chinese Medicine climbs on upbeat earnings outlook

China Traditional Chinese Medicine Holdings Co

29/01/2024 04:22

** Shares of China Traditional Chinese Medicine Holdings Co
Ltd  0570.HK  climb 6.7% to HK$3.20, their highest since Jan 17
    ** Stock on track for biggest one-day pct rise since Oct 24
if trend holds
    ** Traditional Chinese medicine manufacturer, which has
market value of HK$15.7 bln ($2 bln), expects 2023 net profit to
jump 85%-95% YoY, thanks to stable domestic macro economy and
improvement in quality and efficiency
    ** Hong Kong's healthcare index  .HSCIH  slips 0.3%, while 
the Hang Seng Commerce & Industry Index  .HSNC  and Hang Seng
Index  .HSI  both gain 0.9%
    ** Stock down 20.9% YTD 
    
    ($1 = 7.8154 Hong Kong dollars)

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