Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Sound Global Climbs 9.3% as Earnings Forecast Raised

May 22 (Bloomberg) -- Sound Global Ltd., a Chinese wastewater-treatment company, led peers higher in Hong Kong after Standard Chartered Bank (HK) Ltd. raised its earnings forecast this year by 4 percent.

The stock advanced 9.3 percent to HK$6.93 today after climbing as much as 12 percent, the biggest increase since Jan. 29. Beijing Enterprises Water Group Ltd., a water-treatment company, rose 4.4 percent.

Sound Global has strong project momentum as “the government continues to push for stricter water and environmental policies,” Evan Li and Apple Li, Hong Kong-based analysts of the bank, wrote in a note today. Its parent may also inject assets in the longer term, according to the note.

China, facing water shortages in central and western regions, will accelerate the building of water-conservation projects to attract investment, boost supplies and assist farmers, Xinhua News Agency reported yesterday, citing a State Council meeting.

To contact Bloomberg News staff for this story: Feifei Shen in Beijing at fshen11@bloomberg.net

To contact the editors responsible for this story: Randall Hackley at rhackley@bloomberg.net; Reed Landberg at landberg@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.