Games developer Kingsoft falls, Nomura downgrades on disappointing new game

Kingsoft

03/07/2019 04:04

** Shares of Chinese software and online games developer
Kingsoft Corp Ltd  3888.HK  fall as much as 4% to HK$17.14 
    ** Nomura downgrades Kingsoft to "reduce" from "neutral" and
trims PT to HK$16.2 from HK$20.5, saying firm's JX Mobile III
performance is disappointing and missing market expectations
with debut of the game not so well-received by gamers
    ** As of Tuesday's close, stock had risen 58.3% this year
    ** Beijing-based Kingsoft has underperformed the Hang Seng
Commerce & Industry Index sector  .HSNC  by 24.1 percentage
points in the past month
    ** The Hong Kong Hang Seng sub-index tracking information
technology firms  .HSCIIT  falls 1.2 pct
    ** The Hang Seng China enterprises index  .HSCE  slides
0.7%, and the benchmark index  .HSI  eases 0.3%

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