China's Trip.com Hong Kong shares hit over 1-1/2 year high on solid Q4

Trip.com

07/03/2023 07:35

** Hong Kong shares of Chinese online travel services
provider Trip.com Group Ltd  9961.HK  rise as much as 3.8% to
HK$321.80, their highest since June 2021
    ** Stock on course for a second session of gains; second
biggest pct gainer in the Hang Seng Tech Index  .HSTECH 
    ** Shanghai-based Trip.com says its 4Q net revenue up 7%
year-on-year to 5 bln yuan ($721.6 mln) with 4Q net income at
2.1 bln yuan as compared to a net loss of 883 mln yuan for the
same period in 2021  urn:newsml:reuters.com:*:nTUA7PCGRY
    ** Jefferies maintains "buy" rating on Trip.com saying its
4Q results' topline and non-GAAP earnings came in ahead of
expectations and expects the Chinese firm to continue to
demonstrate solid execution with margin expansion story
    ** The Hang Seng Tech Index  .HSTECH  falls 1.9%, while the
Hang Seng Composite Index  .HSCI  falls 0.9% and the Hang Seng
Index  .HSI  eases 0.7%



($1 = 6.9292 Chinese yuan renminbi)

 (Reporting by Donny Kwok; Editing by Kim Coghill)
 ((donny.kwok@thomsonreuters.com))