HK-listed tech group Cogobuy at near 2-year high on deal to expand business

Ingdan

11/02/2021 02:35

** Shares of IC chips industry-focused technology service
firm Cogobuy Group  0400.HK  rise as much as 20.9% to HK$2.95,
their highest since April 2019
    ** Stock last up 18%, on course for the best session since
Feb. 4; among the top 30 biggest percentage gainers on the Hong
Kong bourse 
    ** Guangdong-based company plans to buy a 51% stake in EZ
Root Group from a third party Rich Wisdom Ventures for HK$180
mln ($23.2 mln) as it aims to increase market share in robotics
electronic components manufacturing industry  urn:newsml:reuters.com:*:nFWN2KG1K0
    ** Says it expects demand for electronic components in
applications in artificial intelligence and robotics areas from
customers in China will increase due to rapid development of 5G
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
slips 0.6%
    ** The Hang Seng China enterprises index  .HSCE  eases 0.4%,
and the benchmark index  .HSI  edges down 0.3%

($1 = 7.7525 Hong Kong dollars)

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