HK's online mall operator HKTN hits near 5-month high on strong outlook

Hong Kong Technology Venture Co

02/07/2020 04:38

** Multimedia content distributor and e-shopping mall
operator Hong Kong Television Network Ltd  1137.HK  (HKTN)
surges as much as 25.8% to HK$5.60, the highest since Feb 11
    ** Stock marks biggest intraday pct gain since Feb 10;
Eighth biggest percentage gainer on the Hong Kong bourse 
    ** Company expects HY profit of not less than HK$90 mln
($11.6 mln), vs loss of HK$155.4 mln a year ago  urn:newsml:reuters.com:*:nFWN2E70OY  
    ** Says expected turnaround to profit due to
offline-to-online customer conversion, higher gross profit
margin and surge in online traffic and volume due to COVID-19
pandemic 
    ** Says business growth in H2 remains uncertain amid local
political and economical environment 
    ** As of last close, stock had surged 30.1% this year
    ** Hong Kong Television Network has underperformed the Hang
Seng Commerce & Industry Index sector  .HSNC  by 1.6 percentage
points in the past one month
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
rises 2.1%, while benchmark index  .HSI  climbs 1.5%


($1 = 7.7504 Hong Kong dollars)

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