HK-listed Chinese pork group WH hits 3-mth high on solid earnings

China Yurun Food

29/10/2019 04:05

** Shares of WH Group  0288.HK  rise as much as 8.4% to
HK$8.48, their highest since July 26, on solid 9-month results
    ** Stock on track for its fourth straight session of gains
    ** Says Jan-Sept revenue rose 3.7% year on year, operating
profit jumped 7.2%, and net profit before biological fair value
adjustments was up 8.5%  urn:newsml:reuters.com:*:nL8N27D1OV
    ** Brokerage Daiwa maintains "hold" on the stock but raises
target price to HK$8 from HK$7, saying a 79% jump in Q3 net
profit reflects strong net profit recovery from a low base 
    ** Benefiting from surging China's pork prices, smaller
rivals also rise with COFCO Meat Holdings  1610.HK  climbing as
much as 4.3% and China Yurun Food Group Ltd  1068.HK  up 4.5% 
    ** Pig producer Shandong Yisheng Livestock and Poultry
 002458.SZ  surges 7.8% and Muyuan Foods Co Ltd  002714.SZ 
gains 1.6% 
    ** WH Group's stock is up 29.7% this year, as of last close,
and has outperformed the Hang Seng Commerce & Industry Index
sector  .HSNC  by 9.6 percentage points in the past one month
    ** The Hang Seng China enterprises index  .HSCE  gains 0.02%
on Tuesday, while the benchmark index  .HSI  eases 0.3%

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