Bonjour soars 58pc amid tech pact with Huawei

Business | Kevin Xu 6 May 2021

Shares of Bonjour (0653) once more than doubled to an intraday high of HK$0.38 yesterday after the local cosmetics retailer said it plans to team up with Huawei Technologies in retail technology innovation.

The stock closed 58 percent higher at HK$0.29.

In a stock exchange filing on Tuesday, Bonjour said its subsidiary Bonjour Technology Services signed a non-binding memorandum of understanding with Huawei International in relation to the application of retail technology innovation to support the business transformation and sustainable development of Bonjour, and cooperation in co-branding marketing between Bonjour and Huawei.

Meanwhile, bank stocks rallied on interest rate hike hopes. Hang Seng Bank (0011) added 3.42 percent to HK$157.30, the best performer among blue chips.

Chinese smartphone maker Coolpad (2369) slumped 15.79 percent to HK$0.40 after the company proposed a rights issue that could raise up to HK$1.02 billion at a 41 percent discount.

In comparison, the benchmark Hang Seng Index dropped by 139 points, or 0.49 percent to 28,417. Haidilao International (6862) lost 6.07 percent to HK$48, the worst performer among blue chips.

Separately, the average return of Mandatory Provident Fund schemes was 1.89 percent last month, says fund data company Lipper.

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