Shanghai Fudan's HK shares jump most in nearly 5 months on robust estimates

Shanghai Fudan Microelectronics Co

01/04/2022 07:18

** Hong Kong-listed shares of integrated circuit products
and computer software developer Shanghai Fudan Microelectronics
Group Co Ltd  1385.HK  jump 16.4% to HK$27.35, the biggest
intraday percentage gain since Nov 9
    ** Stock hits the highest since Dec 15, on track for a
weekly gain of 29% 
    ** Stock set for best weekly gain since July-end 
    ** Co estimates its net profit for January-March quarter to
jump 125.7%-189.4% year-on-year with revenue up 49.40%-63.34% in
accordance to Chinese Accounting Standard, due to strong demand
from domestic integrated circuit industry  urn:newsml:reuters.com:*:nFWN2VY1L1
    ** Shanghai-listed shares  688385.SS  surge 19.9% to 54.19
yuan, highest since Dec 1, 2021
    ** The Hang Seng sub-index, which tracks information
technology firms  .HSCIIT , falls 2.4%, and Hang Seng Composite
Index, which tracks industrials  .HSCIIG , slips 0.1%
    ** The Hang Seng Composite Index  .HSCI  eases 0.9% and the
benchmark Hang Seng Index  .HSI  falls 1%


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