Highway Holdings gains as Q2 profit rises on HK, Shenzhen subsidies

Highway Holdings

07/10/2020 18:46

** Hong Kong metal components maker's U.S. shares  HIHO.O 
rise as much as 4.5% to over a month's high of $3.24
    ** Stock up for a fourth straight session
    ** Co's Q2 net income rises to $229,000 from $94,000 a year
earlier, helped by cost controls and govt subsidies in Hong Kong
and Shenzhen to cushion COVID-19 hit  urn:newsml:reuters.com:*:nBw7Kckzba
    ** Q2 rev falls 15% to $2.7 mln, slowing from a ~30% plunge
in Q1, as sales improve due to easing of virus-led curbs
    ** YTD, HIHO has nearly doubled

 (Reporting by Ankit Ajmera in Bengaluru)
 ((ankit.ajmera@thomsonreuters.com))