HK-listed Alibaba Pictures rises most in two months on results optimism

Damai Entertainment Holdings

21/04/2021 03:57

** Shares of Alibaba Pictures Group Ltd  1060.HK  rise as
much as 9.4% to HK$1.16, their highest since Feb. 25
    ** Stock last up 5.7%, on course for the best session since
Feb. 16
    ** Alibaba-backed  BABA.N  9988.HK  movie promoter and
distributor expects its net loss for the fiscal year ended in
March 2021 to decrease by not less than 90% from about 1.15 bln
yuan ($176.9 mln) loss in 2020  urn:newsml:reuters.com:*:nFWN2MC12H
    ** Says lower loss is due to decrease in sales and marketing
expenses resulting from operational efficiency of its online
ticketing platform, and as its strategic planning across the
entertainment industry value chain yielded results  
    ** The Hang Seng Tech Index  .HSTECH  falls 1.9%
    ** Both the Hang Seng China enterprises index  .HSCE  and
the benchmark index  .HSI  drop 1.8%
    ** As of last close, stock had risen 10.4% this year
    ($1 = 6.4998 yuan)

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