Software developer Kingdee falls to 3-week low on property spending plan

Kingdee International Software Co

10/09/2018 05:04

** Shares of Kingdee International Software Group Co Ltd
 0268.HK  fall 5.7 pct to HK$8.00, lowest since Aug 20, on co's
plans to develop research centre
    ** Software and cloud services provider wins bid to buy
land-use rights on a site in Qingdao for 635.3 mln yuan ($92.6
mln) in a deal to be settled by internal resources  urn:newsml:reuters.com:*:nFWN1VT0HX
    ** Co says it will build Kingdee Qingdao Software Park on
the site comprising a research and development centre, a
delivery centre, an education and training centre
    ** As of last close, the stock has risen 92.7 pct this year
    ** Kingdee has underperformed the Hang Seng Commerce &
Industry Index sector  .HSNC  by 8.0 percentage points in the
past one month
    ** Hong Kong benchmark index  .HSI  falls 1.1 pct

 ($1 = 6.8587 Chinese yuan)

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