HK-listed Pax Global hits over 8-month high on earnings outlook

Pax Global Technology

04/07/2022 04:17

** Shares of e-payment terminal solutions provider Pax
Global Technology Ltd  0327.HK  soar as much as 20.9% to
HK$7.39, the highest since Oct. 27 last year, if gains hold.
    ** Stock set for the biggest daily pct gain since Nov. 4;
the biggest pct gainer in both Hang Seng Composite Index  .HSCI 
and Hang Seng sub-index on information technology firms
 .HSCIIT  
    ** Co expects net profit for six months ended in June to
increase not less than 30% as compared to HK$519 mln ($66.14
mln) profit in a year ago period.  urn:newsml:reuters.com:*:nFWN2YH0RT
    ** Says the increase in net profit is mainly due to strong
revenue growth in the first half of the year, driven by the
surging market demand for its Android smart payment terminals in
Europe, Middle East and Africa region.
    ** The Hang Seng sub-index tracking information technology
firms  .HSCIIT  gains 0.4%, while the Hang Seng Tech Index
 .HSTECH  eases 0.2%
    ** The Hang Seng Composite Index  .HSCI  slides 0.7% and the
benchmark Hang Seng Index  .HSI  slips 0.6%
    ** As of the last close, the stock had risen 10.7% this year
($1 = 7.8467 Hong Kong dollars)

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