HK's Kerry Logistics jumps to 2-1/2-mth high; Daiwa raises rating

KLN Logistics

31/08/2018 08:11

** Shares in Kerry Logistics Network Ltd  0636.HK  surge
13.15 pct to HK$11.36, highest since June 19, after the
logistics services provider posts solid first-half earnings 
    ** Stock heads for best day since Jan. 2014
    ** Co says its first-half profit attributable rises 20.3 pct
to HK$947.8 million ($120.8 million)  urn:newsml:reuters.com:*:nFWN1VK0YI
    ** The firm will pay 9 Hong Kong cents per share as interim
dividend, together with a special dividend of 12 HK cents per
share
    ** Daiwa upgrades the rating for the company to "buy" from
"outperform", raising its target price 6.67 pct to HK$12.8,
citing strong H1 results 
    ** As of 0645 GMT, about 5.41 million shares of the company
have been traded, compared with their 30-day moving average of
462,550 shares a day
    ** The company is the best performer in the Hang Seng
Composite Industry industrial-sub Indexes  .HSCIIG , down 0.63
pct
    ($1 = 7.8488 Hong Kong dollars)

 ((Reuters Messaging: Cheng.Li.thomsonreuters.com@reuters.net))