HK's Global Bio-chem Tech hits over 10-week low on weak results forecast

Global Bio-chem Technology Co

20/12/2019 04:15

** Shares of biochemical products manufacturer Global
Bio-chem Technology Group Co Ltd  0809.HK  fall 5% to HK$0.152,
their lowest since Oct. 9 
    ** Co expects to post deeper net loss for 2019 as compared
with a year ago period amid an increase in production cost, and
decline in sales volume and selling prices of feed products due
to the impact of African swine fever  urn:newsml:reuters.com:*:nFWN28T08Q
    ** Co says it expects the swine fever to remain for a period
of time and the operating environment of the feed related
industry will be challenging going forward 
    ** Global Bio-chem has underperformed the Hang Seng Commerce
& Industry Index sector  .HSNC  by 9.6 percentage points in the
past one month
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
gains 0.5%, and the benchmark index  .HSI  climbs 0.4%


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