By Yifan Wang
Shares of CSSC (Hong Kong) Shipping jumped in Hong Kong, as investor sentiment got a boost from the Chinese ship leasing company’s latest upbeat profit guidance.
The stock has advanced as much as 6.0% and was last up 3.9% at HK$1.38.
The rally came after CSSC said in a filing late Wednesday that it expects net profit to rise 18% to 21% on year for the first half of 2023.
The company cited the “satisfactory market performance” of its oil tankers and clean-energy fleets, improved operational efficiency, as well as a “balanced asset portfolio” that allowed it to remain resilient and able to weather the global slowdown in the container shipping industry.
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