Battery maker Tianneng hits 5-mth low, Nomura downgrades

Tianneng Power International

03/09/2018 06:08

** Shares of Tianneng Power International Ltd  0819.HK  fall
as much as 16.4 pct to HK$8.15, the lowest since March 26, after
Nomura downgrades the battery maker
    ** The stock trims losses to HK$8.31, still down 14.8 pct
and heading for the worst day since April 26, 2016 
    ** Nomura downgrades the stock to "neutral" from "buy" amid
its retreat from the lithium battery business 
    ** Co posts 28 pct rise in H1 profit and says it will
accelerate transformation to a service-based manufacturing firm
from a production-based manufacturing firm  urn:newsml:reuters.com:*:nFWN1VM0C0
    ** As of the previous close, the stock had risen 20.07
percent so far this year
    ** As of 0501 GMT, about 5.63 million shares of the
Zhejiang-based company change hands, compared with their 30-day
moving average of 2.31 million shares a day
    ** Hong Kong benchmark index  .HSI  falls 0.95 pct

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