HK-listed Gemdale Properties at 20-year high on robust earnings estimate

Gemdale Properties and Investment

26/02/2020 03:04

** Shares of Gemdale Properties and Investment Corp Ltd 
 0535.HK  rise as much as 9.2% to HK$1.43, their highest since
April 2000
    ** Stock on track for the second consecutive session of gain
    ** Property developer expects 2019 net profit to rise 65%
from the previous year amid significant increase in property
sales and a rise in profits from joint ventures and associates
 urn:newsml:reuters.com:*:nFWN2AP0BK
    ** As of the last close, the stock had risen 27.2% so far
this year
    ** Gemdale has outperformed the Hang Seng Property Index
sector  .HSNP  by 21.9 percentage points in the past one month
    ** Hong Kong Hang Seng sub-index tracking property firms
subindex  .HSNP  edges down 0.2%
    ** The Hang Seng China enterprises index  .HSCE  slides 0.6%
and the benchmark index  .HSI  falls 0.8%

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