HK-listed Precision Tsugami at over 3-1/2 year high on robust earnings outlook

Precision Tsugami (China)

22/10/2021 09:27

** Shares of machine tools maker Precision Tsugami (China)
Corp Ltd  1651.HK  jump 19.4% to HK$11.80, their highest since
February 2018
    ** Stock set for best day since July 30; the fifth biggest
percentage gainer on the Hong Kong bourse
    ** The Zhejiang-based firm expects its profit for six months
ended in September to surge 150% as compared with the previous
year to 370 mln yuan ($57.9 mln) amid a recovery of China's
economy with strong demand for machine tools from manufacturing
industries including automotives  urn:newsml:reuters.com:*:nFWN2RH1RH
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
gains 0.6%, and the benchmark index  .HSI  up 0.4%
    ** As of previous close, shares up 32.1% this year

($1 = 6.3869 Chinese yuan renminbi)

 (Reporting by Donny Kwok; editing by David Evans)
 ((donny.kwok@thomsonreuters.com))