HK's Oriental Watch hits 10-year high as China powers robust earnings estimates

Oriental Watch Holdings

11/06/2021 04:11

** Shares of Oriental Watch Holdings Ltd  0398.HK  rise as
much as 8.9% to HK$4.40, the highest since August 2011
    ** The watches trader and retailer expects profit for fiscal
year ended in March to amount to over HK$225 mln ($29 mln),
higher than the HK$100 mln a year earlier  urn:newsml:reuters.com:*:nFWN2NS0JX
    ** Says profit boosted by significant growth in revenue in
the Mainland China market as consumers increased their spending
locally due to travel restrictions amid the COVID-19 pandemic 
    ** Stock on course for the best session since Nov. 26, 2020;
among the 30 biggest percentage gainers on the Hong Kong bourse
    ** The Hong Kong Hang Seng consumer goods and services index
 .HSCGSI  gains 0.6%, and the benchmark index  .HSI  climbs 0.4%
    ** The stock had surged 52.5% this year as of last close
    ($1 = 7.7593 Hong Kong dollars)

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