HK-listed Kingdee hits two-month high, Daiwa initiates coverage

Kingdee International Software Co

05/09/2019 07:06

** Shares of enterprise resource planning (ERP) services
provider Kingdee International Software Group Co Ltd  0268.HK 
climb as much as 5.4% to HK$8.35, their highest since July 4
    ** Stock is set to gain for the fifth consecutive session 
    ** Daiwa initiates coverage on the stock with a "buy" call
    ** Says the company is poised to tap into the potential of
cloud ERP market amid growing demand for domestic software, its
strength in acquiring growth companies, and solid wins of new
clients 
    ** As of Wednesday's close, the stock has risen 14.5% this
year
    ** Guangdong-based Kingdee has outperformed the Hang Seng
Commerce & Industry Index sector  .HSNC  by 9.8 percentage
points in the past one month
    ** The Hong Kong Hang Seng sub-index tracking information
technology firms  .HSCIIT  climbs 0.6%
    ** The Hang Seng China enterprises index  .HSCE  rises 1.1%,
and the benchmark index  .HSI  edges down 0.1%


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