HK-listed China Yongda Auto hits 1-1/2-year high on new Shanghai dealership buy

China Yongda Automobiles Services Holdings

16/01/2020 04:29

** Shares of China Yongda Automobiles Services Holdings Ltd
 3669.HK  rise as much as 7.3% to HK$8.69, their highest since
June 2018
    ** Auto dealer and vehicle services provider's stock on
track for a sixth consecutive session of gains
    ** Co says it has acquired a Benz 4S dealership operator in
Shanghai for 258 mln yuan ($37.48 mln)  urn:newsml:reuters.com:*:nFWN29K0S2
    ** Adds deal will help strengthen and expand its 4S outlets
and network coverage for Benz on the mainland 
    ** The Shanghai-based company has outperformed the Hang Seng
Commerce and Industry Index sector  .HSNC  by 10.5 percentage
points in the last month
    ** The Hong Kong Hang Seng Commerce and Industry Index
 .HSNC  edges down 0.1%
    ** The Hang Seng China enterprises index  .HSCE  and the
benchmark index  .HSI  both slide 0.1%
($1 = 6.8841 Chinese yuan)

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)