HK-listed OOIL hits near 4-week low as Q3 revenues drop

Orient Overseas (International)

10/10/2023 05:54

** Shares of container shipping group Orient Overseas
(International) Ltd  0316.HK  (OOIL) fall as much as 5.6% to
HK$99.30, their lowest since Sept. 14
    ** Stock marks the biggest one-day pct drop since Aug. 31
    ** Stock on track to snap three straight sessions of gains,
if losses hold
    ** Biggest pct loser in Hang Seng Index  .HSI  and Hang Seng
Commerce & Industry Index  .HSNC 
    ** OOIL says its Q3 total revenues down 65.1% YoY at $1.76
bln, with the overall load factor 5.1% lower than the same
period in 2022 and overall average revenue per TEU fell by 67.3%
as compared to Q3 last year 
    ** Hang Seng Commerce & Industry Index  .HSNC  rises 1.6%,
Hang Seng Composite Index  .HSCI  gains 1% and Hang Seng Index
 .HSI  adds 1.3%
    ** Stock down 20.3% YTD


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