China's Meitu jumps most in over 4 months on robust earnings outlook

Meitu

25/07/2024 02:51

** Shares of Meitu Inc  1357.HK , a Chinese online
advertising and internet value-added services provider, jump
10.2% to HK$2.49, their biggest intraday pct gain since March 18
    ** Stock hits the highest since July 18, and on course to
snap six straight sessions of decline, if gains hold 
    ** Stock is top pct gainer in Hang Seng Composite Index
 .HSCIIT , which tracks information technology firms 
    ** Co expects its H1 net profit to increase by no less than
80% Y/Y as generative AI technology enhances capabilities of its
photo, video and design products, resulting in rapid growth in
the businesses 
    ** The  .HSCIIT  index drops 2.3%, Hang Seng Tech Index
 .HSTECH  falls 1.6% and Hang Seng Index  .HSI  eases 0.9%
    ** Meitu stock down 30.8% YTD  

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