HK-listed mobile app developer Newborn Town hits near 3-mth high on robust revenue outlook

Newborn Town

23/10/2020 06:53

** Shares of Chinese mobile app developer and mobile
advertising platform services provider Newborn Town Inc
 9911.HK  soar as much as 35.1% to HK$2, highest since July 31
    ** Stock heads for best day since listing in December 2019;
the biggest percentage gainer on the Hong Kong bourse 
    ** Beijing-based co expects its advertising revenue to jump
20%-40% in the nine months ended in September, while value-added
service revenue jump over 65 times  urn:newsml:reuters.com:*:nL8N2HD3S4
    ** Co adds number of downloads of its game apps jumped 38%
YoY 
    ** The Hong Kong Hang Seng sub-index tracking information
technology firms  .HSCIIT  falls 1.1%, and the Hang Seng Tech
Index  .HSTECH  declines 1.4%
    ** The Hang Seng China enterprises index  .HSCE  climbs
0.4%, and the benchmark index  .HSI  gains 0.5%
    ** As of last close, the stock had fallen 54.5% this year 

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