HK's Phoenix Media jumps to 12-mth high, sees gain from asset sales

Phoenix Media Investment (Holdings)

28/02/2019 05:07

** Shares of Phoenix Media Investment (Holdings) Ltd
 2008.HK  rise as much as 22.6 pct to HK$1.03, their highest
since Feb. 21, 2018
    ** Phoenix Media says it expects to record substantial gain
from sale of stake in a unit, which operates a personalized news
and lifestyle information application for mobile devices in
China, for $448 mln  urn:newsml:reuters.com:*:nFWN20M0N5
    ** Co also says it expects to record loss for 2018 before
the disposal gain, compared with a profit in the previous year
    ** As of last close, stock up 15.1 pct this year
    ** Phoenix Media has outperformed the Hang Seng Commerce &
Industry Index sector  .HSNC  by 6.1 percentage points in the
past one month
    ** The Hong Kong Hang Seng sub-index tracking information
technology firms  .HSCIIT  slides 0.2 pct and the benchmark
index  .HSI  gains 0.1 pct

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