Chinese telecom operator China Unicom rose on Monday after the company said it expects net profit for the six months to June to come in 68.9 per cent higher than the same period last year.
China Unicom shares were up 4.6 per cent after the company said it expects net profit for the first half of the year to rise to Rmb2.4bn ($360m) on lower costs. Revenue is expected to fall 1.5 per cent year on year to Rmb138.2bn.
The company said it expects to see “increasing pressure” on its financial performance in the second half, as it will scrap mobile domestic long-distance and roaming fees from September and predicts higher competition in the sector.
Hong Kong’s Hang Seng index was up 1.2 per cent.