PAX Global set for best day in 11 mths after trading resumes

Pax Global Technology

01/11/2021 05:00

** Shares of China's PAX Global Technology Ltd  0327.HK 
jump 19.1% to HK$6.43, head for best day since Dec. 1 2020
    ** Stock is seventh-biggest pct gainer on HK bourse 
    ** Point-of-sale device maker's shares fell 20.4% earlier in
the session, following its Friday statement about U.S. federal
investigators having raided its subsidiary's office in Florida
 urn:newsml:reuters.com:*:nL4N2RP4Y0
    ** A cyber security blog had then reported about the raid
and had tied it to the co's likely involvement in cyberattacks
on the United States and EU orgs
    ** Trading in its shares on HK bourses had been halted since
Wednesday after they plunged more than 40%
    ** Co says there has neither been any reported cyberattack
incidents nor cyberattack complaints against PAX products and
services anywhere in the world
    ** The board is not aware of any charge being filed against
the co and its unit Pax Technology has resumed normal ops - PAX 
    ** Co has not observed any material adverse change to ops
and does not envisage any material financial impact 
    ** Hang Seng sub-index tracking IT firms  .HSCIIT  falls
1.8%, while Hang Seng Tech Index  .HSTECH  slips 1.7%
    ** Hang Seng Composite Index  .HSCI  eases 1.2% and the
benchmark index  .HSI  drops 1.1%
    ** PAX stock down 20.4% this year, as of last close

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