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HK-listed Xinxin Mining hits near 5 months high on profit forecast

Kitco News

Shares of nickel and copper refiner Xinjiang Xinxin Mining Industry Co Ltd surge 15.5% to HK$1.86, the highest since March 2

Stock set for best day since April 27; among the 15 biggest percentage gainers on the Hong Kong bourse

Urumqi, Xinjiang-based company expects to record a net profit of 228 mln yuan ($35.16 mln) for the six months ended in June, compared to a net loss of 62.6 mln yuan for the same period a year earlier, as revenue jumps on increasing sales of nickel cathode

Hong Kong's material index rises 1.1%

The Hang Seng China Enterprises Index falls 3.7%
and the benchmark index drops 2.9%

As of last close, stock up 192.7% this year

($1 = 6.4838 yuan)

(Reporting by Donny Kwok)

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