HK shoemaker Yue Yuen climbs to over two-year peak on robust earnings outlook

Pou Chen

26/04/2024 03:18

** Shares of footwear maker Yue Yuen Industrial (Holdings)
Ltd  0551.HK  jump 14.5% to HK$14.18, their highest since
December 2021 
    ** Stock on course for fifth consecutive session of gains
    ** Stock posts biggest intraday pct rise since March 14, and
is biggest pct gainer in the Hang Seng Composite Index  .HSCI  
in the benchmark Hang Seng Index  .HSI 
    ** The Pou Chen Corp-backed  9904.TW  shoemaker expects its
net profit for three months ended March to increase 95%-100%,
compared with a $50.8 mln profit in the year-ago period, due to
normalization of its order book, driven by the gradual recovery
of the global footwear industry
    ** Hang Seng Composite Index  .HSCI  rises 1.2% and Hang
Seng Index  .HSI  adds 1.3%
    ** Pou Chen Corp  9904.TW  climbs 2.4% to T$36.45, its
highest since March 29
    ** Yue Yuen stock up 63.5% YTD

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