HK's Johnson Electric hits 3-week low on weak H1 forecast

Johnson Electric Holdings

11/07/2019 03:14

** Shares of Johnson Electric Holdings Ltd  0179.HK  fall as
much as 8.1% to HK$15.94, their lowest since June 21, after the
motor maker forecast sharp fall in first-half earnings
    ** Stock ranks 9th top percentage loser in early trade
    ** Co says its sales for quarter ended in June were $767
million, down 12% from $872 million during the same quarter in
2018. Excluding currency movements, sales fell by 9%
    ** Co says its six-month profit ending in September will be
"substantially lower" than a year earlier amid the prevailing
sales trends  urn:newsml:reuters.com:*:nFWN24A0ZC
    ** As of Wednesday's close, the stock had risen 8.7% this
year
    ** Johnson Electric has outperformed the Hang Seng Commerce
& Industry Index sector  .HSNC  by 5.9 percentage points in the
past one month
    ** The Commerce & Industry Index rises 1.03%, while the
benchmark index  .HSI  gains 1.2%

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