HK-listed Aerospace Technology hits over 11-weeks high on Huawei Cloud cooperation

Talius

07/07/2021 04:25

** Shares of satellite big data applications and solutions
group Hong Kong Aerospace Technology Group Ltd  1725.HK  surge
as much as 18.4% to HK$38, their highest since April 26, on
course for sixth straight session of gains
    ** Stock on track for the best day since May 6; the fifth
biggest percentage gainer on the Hong Kong bourse
    ** Company says it has teamed up with cloud service provider
Huawei Cloud Hong Kong to jointly establish a remote sensing big
data and AI service platform in the Guangdong-Hong Kong-Macau
Greater Bay Area  urn:newsml:reuters.com:*:nFWN2OI0T0
    ** Guangdong-based firm says the cooperation agreement shall
be valid for 10 years and it will responsible for Golden
Bauhinia Constellation satellites launching project and business
development of the platform
    ** The Hong Kong Hang Seng sub-index tracking information
technology firms  .HSCIIT  falls 1.3%, and the Hang Seng Tech
Index  .HSTECH  slips 0.8%
    ** The Hang Seng China Enterprises Index  .HSCE  declines
1.3%, and the benchmark index  .HSI  falls 0.7%
    ** The stock had soared 2,369% this year as of last close 

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