MINISO's Hong Kong shares hit record high on strong results

MINISO Holding

01/03/2023 03:13

** Hong Kong shares of MINISO Group Holding Ltd  9896.HK 
jump as much as 11.4% to HK$37.60, highest since debut on July
13, 2022
    ** Stock of China lifestyle and pop toy products retailer
set for biggest daily pct rise since Jan 16, if current gains
hold
    ** Stock up for a third straight session; co's U.S.-listed
shares  MNSO.N  rose 5.4% overnight 
    ** Guangdong-based co says net profit jumped 126.9%
year-on-year to 764.1 mln yuan ($110.30 mln) for the six months
ended in December  urn:newsml:reuters.com:*:nTUACCC1BN
    ** Q2 net profit up 90.7% year-on-year at 352.5 mln yuan 
    ** Jefferies maintains "buy" rating, saying 2QFY23 net
profit beats estimates and expects strong domestic recovery in
3QFY23 
    ** The Hang Seng Commerce & Industry Index  .HSNC  soars
3.5% and the Hang Seng Consumption Index  .HSCGSI  surges 3%
    ** The Hang Seng Composite Index  .HSCI  and the Hang Seng
Index  .HSI  both rise 2.9%

($1 = 6.9275 Chinese yuan)

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