HK's NWS Holdings set for best day in 16 months on robust outlook

CTF Services

21/07/2021 05:01

** Shares of toll road operator and insurer NWS Holdings Ltd
 0659.HK  rise 9% to HK$8.39, on course for their best day since
March 2020 
    ** Stock hit its highest since July 5, and is the
fourth-biggest percentage gainer in the Hang Seng Composite
Index  .HSCI 
    ** NWS Holdings, which is backed by New World Development
 0017.HK , expects net profit of up to HK$1 bln ($128.7 mln) for
the fiscal year ended June, up from HK$253 mln profit from a
year earlier  urn:newsml:reuters.com:*:nFWN2OV1CN
    ** Co expects attributable operating profit to jump at least
42% to HK$5 bln for the fiscal year ended June, due to traffic
volume growth of its roads portfolio as Chinese economy
recovered and solid performance of its life insurer's business
in Hong Kong
    ** The Hong Kong composite industry index tracking utilities
 .HSCIU  gains 0.1%, while the Hang Seng Finance Index  .HSNF 
slips 0.2%
    ** The Hang Seng Composite Index  .HSCI  slides 0.2%, and
the benchmark index  .HSI  eases 0.3%
    ** By last close, stock up 7.1% this year 
    ($1 = 7.7725 Hong Kong dollars)

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