Wulng Motors hits near 2-1/2-yr high on reports China encouraging return of street vendors

Wuling Motors Holdings

04/06/2020 08:30

** Hong Kong listed shares of Chinese van and engine maker
Wuling Motors Holdings Ltd  0305.HK  soar as much as 67% to
HK$0.51, their highest since February 2018  
    ** The stock later trimmed gains to HK$0.465, still up
52.5%, ranks the second biggest percentage gainer among all
listed companies on the Hong Kong bourse 
    ** Mainland media Caixin Global reported that investors
rushed for Wuling shares, after Chinese Premier Li Keqiang
signaled encouragement for the return of street vendors in the
recovery from COVID-19 pandemic (https://bit.ly/2Y06nre)
    ** The stock jumped 53.3% on Wednesday after Wuling launched
its latest van model which can turn into a mobile stall by
opening its doors on both sides  
    ** Co said on Wednesday it was not aware of any reasons for
the surge stock prices and trading volume (https://bit.ly/2XWlZMs)
    ** Government will provide more support for street stalls
and small businesses as they are an important source of jobs and
the "fire" of China's economy, South China Morning Post reported
(https://bit.ly/3eOABUN)
    ** Stall economy-related stocks in Shanghai also surged with
commodity trading platforms operator Zhejiang China Commodities
City Group  600415.SS  up 10% and dining equipment maker Yindu
Kitchen Equipment Co Ltd  603277.SS  soaring 9.97% 
    ** The Hang Seng China enterprises index  .HSCE  declines
0.4%, and the benchmark index  .HSI  slides 0.3%

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