BUZZ-HK/China movers: Li & Fung, Tencent, Cathay Pacific, Brilliance
Earnings are front-and-center in HK/China as large-caps see significant moves even though the Hang Seng appears little changed following Wednesday's typhoon-related market holiday. Here's what's moving beyond the indexes:
** Tencent Holdings : -4.4%, earnings miss after big run-up sees stock as top loser on the Hang Seng. Tencent shares had seen the biggest 1-month run-up to earnings in 4 years. link.reuters.com/mut32v. Still, CICC has note out with HK$500 price target.
** Li & Fung : +8.2%, one of the heaviest borrowed stocks in Hong Kong sees a big bounce after saying worst is over in interim results announcement and slew of broker upgrades.
** Cathay Pacific : -1.8%, weak results as currencies and cargo hurt.
** Brilliance China : +11.3%, resilient profit margins and the first dividend since 2005 vaults the stock to a record high. (Stocks Buzz is a pilot project. Please send any feedback or suggestions to firstname.lastname@example.org) (RM: email@example.com)