HK-listed Precision Tsugami at near 3-year high on robust earnings forecast

Precision Tsugami (China)

20/04/2021 06:59

** Shares of machine tools maker Precision Tsugami (China)
Corp Ltd  1651.HK  rise 7.2% to HK$10.02, their highest since
June 2018, on course for a third consecutive session of gains
    ** Stock last up 5.9%, on track for best day since Jan 29
    ** The Zhejiang-based firm expects its profit for the year
through March to jump 150% as compared with previous year as
demand for automation, construction machinery industries has
shown an increasing trend, and automobile parts industry
recovered in fiscal H2  urn:newsml:reuters.com:*:nFWN2MC10T
    ** Says it will strive to enhance production efficiency and
capacity, reduce costs and expand sales network while broadening
application of computerised numerical control high precision
machine tools 
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
gains 0.2%
    ** The Hang Seng China enterprises index  .HSCE  climbs 0.2%
and the benchmark index  .HSI  up 0.3%
    ** As of previous close, shares up 25% this year

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