BUZZ-China's TCL rises after co claims business unaffected despite US probe into patents

Reuters

Sep 26, 2024

** Shares of Chinese display devices maker TCL Electronics Holdings Ltd jump 7% to HK$4.89, on track for their biggest one-day pct gain since June 14, if gains hold

** Stock set to snap two straight sessions of losses

** TCL said the United States International Trade Commission instituted an investigation with regard to a complaint filed by Maxell Ltd alleged that TCL's products imported into and sold within the U.S. infringed the patents owned by the complainant

** Co said the investigation only involves the patents on technologies relating to portable terminal projection and is still at a preliminary stage

** TCL said it is believed that the investigation will not have substantial impact on its operations, and the company's global market business operates as usual and is on a positive trend

** Hang Seng Commerce & Industry Index rises 2.2%, while the index tracking industrials and Hang Seng Index add 1.6% each

** TCL stock up 79.2%, YTD

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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