China's Xinyi Solar hits near 6-month high on strong results, Citi upgrade

Xinyi Solar Holdings

03/08/2021 09:17

** Shares of Xinyi Solar Holdings Ltd  0968.HK  jump as much
as 11.2% to HK$18.10, the highest since Feb. 24, extending gains
to a fourth straight session
    ** Stock, last up 8.5%, is the biggest percentage gainer in
the benchmark Hang Seng Index  .HSI 
    ** Chinese solar glass maker posts a 118% surge in H1 profit
to HK$3.07 bln ($394.79 mln), with revenue rising about 75% year
on year to HK$8.07 bln  urn:newsml:reuters.com:*:nFWN2P7053
    ** Citi upgrades Xinyi Solar to "buy" from "neutral", saying
sale prices of its solar glass have probably troughed with a
limited downside 
    ** Hong Kong's material index  .HSCIM  falls 4.3% and the
Hang Seng Composite Index  .HSCI  slides 0.6%
    ** Both the Hang Seng China Enterprises Index  .HSCE  and
the benchmark index  .HSI  slip 0.5%
    ** Stock had fallen 19.6% this year, as of last close


($1 = 7.7762 Hong Kong dollars)

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