BUZZ-Medical device maker Microport loses most in two weeks on tepid first-half outlook
Reuters
Jul 18
BUZZ-Medical device maker Microport loses most in two weeks on tepid first-half outlook
** Shares of orthopaedic and cardiovascular medical devices manufacturer Microport Scientific Corp 0853.HK fall 6.1% to HK$8.66, their biggest intraday pct drop since July 4
** Company expects to record up to $110 million loss in H1, compared with $106.7 million loss last year, with revenue down about 4% y/y
** Says results hit by volatile geopolitical and international trade conflicts, and intensified domestic industry competition, among others
** Except the surgical robot business, all of the other major business segments recorded revenue decline or growth slowdown to varying extents - Microport
** Hong Kong's healthcare index .HSCIH adds 0.1% and Hang Seng Index .HSI climbs 0.9%
** YTD, stock up 35.7%
(Reporting by Donny Kwok)
((donny.kwok@thomsonreuters.com))
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