Coal producer Kinetic Development jumps on robust earnings outlook

Kinetic Development

09/12/2021 04:26

** Shares of Chinese coal producer Kinetic Development Group
Ltd  1277.HK  jump 11.3% to HK$0.59, on track for their biggest
daily percentage gain since Sept. 1
    ** Stock on course for a second session of rise; among the
30 top percentage gainers on the Hong Kong bourse
    ** Co expects its 2021 net profit to more than double from a
year ago, thanks to an increase in coal prices  urn:newsml:reuters.com:*:nFWN2SS17S
    ** Says annual results announcement is expected to be
published by end-March 2022
    ** The Hang Seng Composite Index tracking energy stocks
 .HSCIE  climbs 0.5%, and the material index  .HSCIM  gains 0.7%
    ** The Hang Seng Composite Index  .HSCI  surges 1.2% and the
benchmark index  .HSI  rises 0.9%
    ** As of last close, the stock had surged 20.5% this year

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