HK-listed Huanxi Media hits 1-1/2-yr high on video deal with Beijing ByteDance
24/01/2020 04:43
** Shares of Huanxi Media Group Ltd 1003.HK soar as much
as 46% to HK$2, their highest since August 2018, after four
straight sessions of declines
** Stock of the media and entertainment group tops the
biggest daily percentage gainers and is on track for its best
day since July 2015
** Co says it has entered into a cooperation agreement with
Beijing ByteDance Network Technology Ltd, of which ByteDance
will pay 630 mln yuan ($91.3 mln) to Huanxi Media for delivery
of licenced videos content online urn:newsml:reuters.com:*:nFWN29S130 urn:newsml:reuters.com:*:nFWN29S12E
** The Hong Kong Hang Seng sub-index, tracking information
technology firms .HSCIIT , gains 0.3%
** Hang Seng China enterprises index .HSCE and the
benchmark index .HSI climb 0.2% each
($1 = 6.9040 Chinese yuan)
(Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)
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