HK e-payment group Pax Global hits over 4-year high on robust earnings forecast

Pax Global Technology

01/12/2020 04:13

** Shares of e-payment terminal solutions provider Pax
Global Technology Ltd  0327.HK  surge as much as 32.6% to
HK$6.39, highest since August 2016
    ** Stock last up 30.7%, set for best day since listing in
December 2010
    ** Biggest percentage gainer in the Hang Seng sub-index
 .HSCIIT  that tracks information technology firms; second
biggest percentage gainer among all listed companies on the Hong
Kong bourse 
    ** Company expects net profit for 2020 to increase not less
than 40% compared to HK$625 mln ($80.62 mln) in 2019
 urn:newsml:reuters.com:*:nFWN2IG0FF
    ** Says strong growth is due to demand surge in the second
half of the year, driven by recovery in electronic payment
terminals industry and accelerating cashless initiatives
globally
    ** The Hong Kong Hang Seng sub-index climbs 1%
    ** The Hang Seng China enterprises index rises 1.2%, and the
benchmark index  .HSI  climbs 0.9%
    ** Stock up 32.1% this year, as of last close


($1 = 7.7523 Hong Kong dollars)

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