News: Li & Fung Ltd (0494.HK)
Wed, Dec 4 2013
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HONG KONG - Global exporter Li & Fung Ltd said business with its major customer Wal-Mart Stores Inc is normal, but its shares still slid as much as 4.9 percent on a report that the U.S. retailer is cutting orders to suppliers.
HONG KONG, Aug 15 - Hong Kong shares ended flat on Thursday, as weakness in the local property sector offset an 11.6 percent surge for Li & Fung as investors covered short bets on hopes that the worst is over for the exporter.
* Brilliance China hits record high after H1 earnings impress
HONG KONG, Aug 15 - Shares of global sourcing firm Li & Fung Ltd jumped more than 9 percent on Thursday as investors cheered news that the worst is over for the company and looked ahead to what it said would be a recovery this year.
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:
* Fourth-worst performing stock on index so far this year
HONG KONG, Aug 13 - Global sourcing firm Li & Fung Ltd, whose distribution centres make it a useful barometer of consumer sentiment, reported a 69 percent drop in six-month net profit due to sluggish demand in the United States and Europe.
* China cyclicals from shippers to steel extend strong gains
Li & Fung shares are hovering near their 4-year lows and there is little to suggest that its earnings report will enthuse investors back.
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