HK's Nine Dragons Paper near 2-week high on positive profit alert

Nine Dragons Paper (Holdings)

20/08/2018 08:07

** Shares in Hong Kong's Nine Dragons Paper Holdings Ltd
 2689.HK  climb 8 pct to their highest since Aug. 10, after it
says it expects profit for the year to increase not less than 60
pct
    ** Stock is set for best day since July 24 
    ** The paper company says it expects profit for the year 
ended June 30, 2018 to increase not less than 60 pct versus last
year, due to an increase in the selling price of the products
and a better profit margin of the group (http://bit.ly/2MDsCzq)
    ** As of the previous close, the stock had fallen 32.59
percent so far this year
    ** As of 0640 GMT, about 20.54 million shares of Nine
Dragons Paper have been traded, compared with their 30-day
moving average of 18.42 million shares a day
    ** Hong Kong's benchmark HSI index  .HSI  is up 1.27 pct

 ((Reuters Messaging:
tingting.liu.thomsonreuters.com@reuters.net))