Shipping group SITC jumps most in four months on H1 profit growth forecast

SITC International Holdings

18/07/2022 05:48

** Shares of container transportation and integrated
logistics services provider SITC International Holdings Co Ltd
 1308.HK  climb as much as 6.3% to HK$25.20 - set for their
biggest daily pct rise since March 16, if gains hold
    ** Stock hits the highest since June 16 and on course for a
third straight session of gain; third-biggest pct gainer in the
Hang Seng Composite Index on industrials  .HSCIIG 
    ** Co expects H1 profit of $1.17 bln compared with $487.9
mln in the year-earlier period, due to significant increase in
freight rates, expansion in the Asian market, improvement in
operating efficiency and cost control  urn:newsml:reuters.com:*:nFWN2YX00N
    ** The Hang Seng Commerce & Industry Index  .HSNC  jumps
2.7% and the Hang Seng Composite Index tracking industrials
 .HSCIIG  climbs 1.5%
    ** The Hang Seng Composite Index  .HSCI  rises 2.3% and the
benchmark Hang Seng Index  .HSI  surges 2.6%
    ** As of last close, stock had fallen 16% this year

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