Hua Hong Semiconductor rises on Shanghai listing plan, Q1 results

Hua Hong Grace Semiconductor

11/05/2023 07:48

** Shares of Hong Kong-listed semiconductor wafers producer
Hua Hong Semiconductor Ltd  1347.HK  rise as much as 6.8% to
HK$29.80 
    ** On course to snap four straight sessions of decline, if
gains hold
    ** Shanghai Stock Exchange says committee will review
listing plan of Hua Hong Semiconductor on May 17 
    ** Co, with current market value of $4.67 bln, says its Q1
net profit up 47.9% YOY at $152.2 mln and revenue up 6.1% at
$630.8 mln
    ** Co expects Q2 revenue to be about $630 mln 
    ** Hang Seng Commerce & Industry Index  .HSNC  eases 0.7%,
while Hang Seng Composite Index tracking industrials  .HSCIIG 
slips 0.6%
    ** Hang Seng Composite Index  .HSCI  declines 0.6% and the
Hang Seng Index  .HSI  falls 0.7%
    ** As of last close, stock gained 2.4% this year

($1 = 7.8489 Hong Kong dollars)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))