BUZZ-Geely Automobile at one-week high on robust earnings outlook

Reuters
11 Apr
BUZZ-Geely Automobile at one-week high on robust earnings outlook

** Shares of Geely Automobile Holdings 0175.HK rise 4.8% to HK$15.64, their highest levels since April 3

** Stock on track for a fourth consecutive session of gains, if current trend holds

** Stock set for the biggest one-day pct gain since February 27; third biggest pct gainer on Hang Seng Index .HSI, which slips 0.7%

** Geely expects its profit attributable for the three-month period ended March to be in the range of 5.2 bln to 5.8 bln yuan ($710.13-$792.07 mln), up 220%-270% y/y, due to record-high sales volume and robust growth in its new energy business

** UOB Kay Hian maintains "market weight" on autombile with top BUYs including BYD, Geely and Desay SV

** U.S. tariffs on Chinese autos (up to 150%) have limited direct impact but raise global trade tensions, posing risks to demand and earnings - UOB

** Hang Seng Commerce & Industry Index .HSNC eases 0.9%, Hang Seng Tech Index .HSTECH slips 0.3%

** Stock up 4.2%, YTD

($1 = 7.3226 Chinese yuan)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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