China's TCL rises after co claims business unaffected despite US probe into patents
26/09/2024 04:04
** Shares of Chinese display devices maker TCL Electronics
Holdings Ltd 1070.HK jump 7% to HK$4.89, on track for their
biggest one-day pct gain since June 14, if gains hold
** Stock set to snap two straight sessions of losses
** TCL said the United States International Trade Commission
instituted an investigation with regard to a complaint filed by
Maxell Ltd 6810.T alleged that TCL's products imported into
and sold within the U.S. infringed the patents owned by the
complainant
** Co said the investigation only involves the patents on
technologies relating to portable terminal projection and is
still at a preliminary stage
** TCL said it is believed that the investigation will not
have substantial impact on its operations, and the company's
global market business operates as usual and is on a positive
trend
** Hang Seng Commerce & Industry Index .HSNC rises 2.2%,
while the index tracking industrials .HSCIIG and Hang Seng
Index .HSI add 1.6% each
** TCL stock up 79.2%, YTD
(Reporting by Donny Kwok)
((donny.kwok@thomsonreuters.com))