HK financial firm Sun Hung Kai & Co rises on upbeat profit expectations

Sun Hung Kai & Co

19/02/2020 03:50

** Shares of financial service group Sun Hung Kai & Co Ltd
 0086.HK  rise as much as 7.2% to HK$3.74, the highest since
Jan. 22, on track for the second session of gains
    ** Stock pares gains to trade 5.44% higher by 0348 GMT, set
for the best day since August 2015
    ** Co says it expects profit for year ended 2019 to show a
"significant increase" from 2018, due to fair value gain on the
financial instruments during the year  urn:newsml:reuters.com:*:nFWN2AI0A9
    ** Stock down 5.9% so far this year, as of last close 
    ** Sun Hung Kai & Co has underperformed the Hang Seng
Finance Index sector  .HSNF  by 0.5 percentage points in the
past one month
    ** The Hang Seng Finance Index  .HSNF  gains 0.4% on
Wednesday, while the benchmark index  .HSI  climbs 0.5%

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)