BUZZ-China Tobacco jumps; co says regulation not affecting cigarettes business

Reuters

Jul 28

BUZZ-China Tobacco jumps; co says regulation not affecting cigarettes business

** Shares of China Tobacco International 6055.HK jump 16.5% to HK$38.05, their highest since June 5, and on course for third straight session of gains

** Stock set for the biggest one-day pct gain since June 2024

** The cigarettes and tobacco leaf products import and export group said China's draft regulation regarding "Measures for the Administration of Tobacco Products in Domestic Duty-free Markets" will not affect its exclusive cigarettes export business

** Company said it has reached consensus with China Tobacco International Inc on maintaining the firm’s operating position for procuring cigarettes and exclusively selling them to the Chinese domestic duty-free market

*** China Tobacco International is the sole enterprise qualified for state trading in import and export of tobacco

** Hang Seng Consumption Index .HSCGSI slips 0.8%, while benchmark Hang Seng Index .HSI climbs 0.4%

** YTD, stock up 57.1%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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co says regulation not affecting cigarettes business** Shares of China Tobacco International 6055.HK jump 16.5% to HK$38.05, their highest since June 5, and on course for third straight session of gains** Stock set for the biggest one-day pct gain since June 2024** The cigarettes and tobacco leaf products import and export group said China's draft regulation regarding \"Measures for the Administration of Tobacco Products in Domestic Duty-free Markets\" will not affect its exclusive cigarettes export business ** Company said it has reached consensus with China Tobacco International Inc on maintaining the firm’s operating position for procuring cigarettes and exclusively selling them to the Chinese domestic duty-free market *** China Tobacco International is the sole enterprise qualified for state trading in import and export of tobacco** Hang Seng Consumption Index .HSCGSI slips 0.8%, while    benchmark Hang Seng Index .HSI climbs 0.4%** YTD, stock up 57.1%   (Reporting by Donny Kwok) ((donny.kwok@thomsonreuters.com))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"policyRegulatory","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}