Knitwear maker Shenzhou International slips to five-week low on weak earnings outlook
10/08/2026 02:52
BUZZ-Knitwear maker Shenzhou International slips to five-week low on weak earnings outlook ** Shares of Shenzhou International Group 2313.HK fall 5% to HK$40.68, their lowest level since July 2
** Stock posts its biggest intraday pct drop since June 3, and is the third-biggest pct loser in the benchmark Hang Seng Index .HSI, which climbs 0.6%
** The knitwear products maker expects its profit attributable to decrease of 38%-43% y/y for the six-month period ended in June on rising raw material and labour costs, appreciation of yuan against U.S. dollar, and a decline in sales volume due to weak demand
** YTD, Hong Kong stock down 30.7%, Hang Seng Index .HSI up 0.9%
(Reporting by Donny Kwok)
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