HK-listed Newborn Town drops after co clarifies on ByteDance partnership

Newborn Town

10/05/2021 04:29

** Shares of mobile application development and mobile
advertising platform services provider Newborn Town Inc
 9911.HK  fall as much as 11.1% to HK$5.45, their lowest since
April 21
    ** Stock on course for a second session of losses; among the
30 biggest percentage decliner on the Hong Kong bourse
    ** Newborn Town says rumours of the co entering into another
partnership with a traffic platform under ByteDance are false  
(https://bit.ly/3vQXLlW)
    ** The Beijing-based co clarified it has been carrying out
traffic operation on the Ocean Engine platform and Pangle
platform under ByteDance since 2019 
    ** The Hong Kong Hang Seng sub-index tracking information
technology firms  .HSCIIT  falls 1.6% 
    ** The Hang Seng China enterprises index  .HSCE  slips 0.3%
and the benchmark index  .HSI  eases 0.2%
    ** As of last close, stock up 246.3% this year

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