ASX-listed FinTech Chain sees worst day in 7-months on weak earnings

FinTech Chain

02/12/2019 02:44

** Shares of the Hong Kong-based financial technology
services provider  FTC.AX  slump as much as 31.3% to A$0.11,
marking their biggest intraday percentage fall since April 30
    ** Posts half-yearly loss attributable of RMB1.8 million,
compared to a profit of RMB9.6 million a year earlier; revenue
declines 37.2% to RMB17.8 million  urn:newsml:reuters.com:*:nASXbHmbml
    ** Revenue from blockchain technology services drops to nil
from RMB14.8 million a year earlier, due to blockchain market
fluctuations 
    ** Stock at its lowest since Sept. 23
    ** Over 7 mln shares change hands, compared with the 30-day
average volume of ~1 mln
    ** Stock had risen more than three-fold this year, as of
last close

 (Reporting by Arundhati Dutta)
 ((Arundhati.dutta@thomsonreuters.com))