China sportwear group 361 Degrees climbs on upbeat earnings forecast

Li Ning

05/02/2024 06:45

** Shares of China's sporting goods and apparel maker 361
Degrees International Ltd  1361.HK  climb 3.5% to HK$3.59, on
course for the biggest one-day pct gain since Jan 24
    ** Fujian-based co expects its 2023 net profit to increase
by not less than 25% YoY as performance improved on new,
high-value products, favourable retail environment and
strengthening credit management on distributors
    ** Hang Seng Consumption Index  .HSCGSI  slips 0.3% while
Hang Seng Commerce & Industry Index  .HSNC  gains 0.3% and Hang
Seng Index  .HSI  adds 0.1%
    ** Bigger rivals climb, with ANTA Sports  2020.HK  and Li
Ning Co Ltd  2331.HK  both up 1.7%  
    ** Stock of 361 Degrees up 2.9% YTD  

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