China's SenseTime rises as Alibaba's unit completes disposal of shares

SenseTime

21/07/2023 06:30

** Shares of SenseTime Group  0020.HK  rise as much as 8.9%
to HK$1.84, on course to snap four straight sessions of decline
    ** Stock set for biggest one-day pct rise since April 4 if
gains hold
    ** Stock biggest pct gainer in Hang Seng Tech Index
 .HSTECH , Hang Seng China Enterprises Index  .HSCE  and Hang
Seng Composite Index on information technology firms  .HSCIIT 
    ** Co says Taobao Holding, a unit of its major shareholder
Alibaba Group  9988.HK , has completed disposal of all its
holding of the company's Class B shares
    ** Says its business relationships with Taobao remain
unaffected and the disposal has no impact on its operations and
business collaboration with its partners
    ** Alibaba's Hong Kong shares rise 1.3%
        ** SenseTime 
    fell earlier
     this week on a U.S. congressional panel probe
  
    ** Hang Seng Composite Index on information technology firms
climbs 0.9%, Hang Seng Tech Index rises 1%
    ** Hang Seng China Enterprises Index and Hang Seng Index
 .HSI  both add 0.7%
    ** As of last close, SenseTime shares had dropped 23.9% this
year

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