HK-listed Nine Dragons Paper rises on strong FY earnings outlook

Nine Dragons Paper (Holdings)

23/08/2021 08:48

** Shares of Chinese paper products maker Nine Dragons Paper
(Holdings) Ltd  2689.HK  rise 5.5% to HK$10.66, their biggest
daily percentage gain since July 2 
    ** Stock on track to snap two consecutive sessions of losses
    ** Says it expects net profit for fiscal year ended June to
increase not less than 50% from a year-ago period, if exchange
gains on operating and financing activities net of tax were
excluded, due to an increase in revenue and gross profit
 urn:newsml:reuters.com:*:nFWN2PS0KO
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
climbs 0.9% and the material index  .HSCIM  rises 4.2%
    ** The Hang Seng China Enterprises Index  .HSCE  climbs 0.7%
and the benchmark index  .HSI  gains 0.9%
    ** As of last close, stock down 8.2% this year 

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