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BUZZ-HK-listed Newborn Town drops after co clarifies on ByteDance partnership

05/09/2021 23:29
BUZZ-HK-listed Newborn Town drops after co clarifies on ByteDance partnership

** Shares of mobile application development and mobile advertising platform services provider Newborn Town Inc 9911.HK fall as much as 11.1% to HK$5.45, their lowest since April 21

** Stock on course for a second session of losses; among the 30 biggest percentage decliner on the Hong Kong bourse

** Newborn Town says rumours of the co entering into another partnership with a traffic platform under ByteDance are false (https://bit.ly/3vQXLlW)

** The Beijing-based co clarified it has been carrying out traffic operation on the Ocean Engine platform and Pangle platform under ByteDance since 2019

** The Hong Kong Hang Seng sub-index tracking information technology firms .HSCIIT falls 1.6%

** The Hang Seng China enterprises index .HSCE slips 0.3% and the benchmark index .HSI eases 0.2%

** As of last close, stock up 246.3% this year


(Reuters Messaging: [email protected])