HK-listed TCL at over 2-month high after low-cost smartphone launch

TCL Electronics Holdings

06/09/2019 04:40

** Shares of Chinese TV and mobile phone maker TCL
Electronics Holdings Ltd  1070.HK  rise as much as 3.9% to HK$4,
their highest since July 2
    ** TCL launches a low-cost smartphone in a bet that it can
harness its expertise in screens to win over consumers who are
increasingly watching video on mobile devices  urn:newsml:reuters.com:*:nL5N25W5PS
    ** The TCL smartphone launch comes in a saturated market
that faces headwinds from the U.S.-China trade conflict
    ** As of Thursday's close, stock up 28.3% this year
    ** Guangdong-based TCL has outperformed the Hang Seng
Commerce & Industry Index sector  .HSNC  by 15.5 percentage
points in the past one month
    ** The Hong Kong Hang Seng sub-index, tracking information
technology firms  .HSCIIT , gains 0.3%, and the sub-index
tracking consumer goods companies  .HSCICG  rises 0.9%
    ** The Hang Seng China enterprises index  .HSCE  gains 0.3%,
and the benchmark index  .HSI  climbs 0.6%

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