Component maker Chongqing Machinery hits near 9-mth high on robust forecast

Chongqing Machinery & Electric Co

12/03/2019 02:24

** Shares of Chongqing Machinery & Electric Co Ltd  2722.HK 
rise as much as 12.5 pct to HK$0.72, their highest since June
29, 2018, after the vehicle parts maker expects sharp rise in FY
earnings
    ** Co expects 2018 profit to rise 35-40 pct from a year
earlier amid improvement in operation efficiency and an increase
of investment gain from joint venture  urn:newsml:reuters.com:*:nFWN20Y0FH
    ** As of last close, the shares had risen 23 pct this year
    ** The Hang Seng China enterprises index  .HSCE  climbs 1.4
pct; the benchmark index  .HSI  rises 1.1 pct

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