Chinese online advertising firm Meitu hits 8-week high on results optimism

Meitu

31/12/2019 03:12

** Shares of Chinese online advertising firm and selfie
image-enhancing app developer Meitu Inc  1357.HK  surge as much
as 19.3% to HK$1.79, their highest since Nov. 7, and are on
track for their third straight session of gain
    ** Company expects narrower operational losses for year
ending in December 2019 amid growth in gross profits and gross
profit margins as its online advertising revenue grew while
marketing and sales expenses declined  urn:newsml:reuters.com:*:nFWN29403Y
    ** As of Monday's close, the stock has fallen 31.5% this
year
    ** Fujian-based Meitu has underperformed the Hang Seng
Commerce & Industry Index sector  .HSNC  by 3.6 percentage
points in the past one month
    ** The Hong Kong Hang Seng sub-index tracking information
technology firms  .HSCIIT  falls 1.5% on Tuesday
    ** The Hang Seng China enterprises index  .HSCE  and the
benchmark index  .HSI  both slide 0.5% 

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