HK's Prinx hits 3-year peak on preliminary US dumping rate on co's Thai unit

Prinx Chengshan Holdings

17/05/2024 07:18

** Shares of tire products manufacturer Prinx Chengshan
Holdings Ltd  1809.HK  jump 19.5 to HK$8.75, their highest since
June 2021
    ** Stock marks biggest intraday pct rise since October 2018,
and on track for a second session of gains 
    ** Prinx said the U.S. Department of Commerce announced on
May 15 that its preliminary determination in the anti-dumping
duty investigation of truck and bus tires imported from
Thailand, and that the preliminary dumping rate applicable to
co's wholly-owned unit Prinx Chengshan Tire (Thailand) is 0%
    ** Says the final affirmative determination from the U.S.
International Trade Commission is expected to take place on Sept
12 and issuance of order is expected to take place on Sept 19 
    ** Hang Seng Commerce & Industry Index  .HSNC  gains 0.7%
and Hang Seng Index  .HSI  adds 0.2%
    ** Prinx stock up 36% YTD  

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