TINGYI Soars ~6% Once on 5D Rise; CS Reportedly Confirms Price Hike in Classic Series of Instant Noodles

　　TINGYI (00322.HK) +0.260 (+2.595%) Short selling $87.64M; Ratio 39.148% advanced for the fifth trading day. It opened flat today, rising 5.79% once in the early session to peak at $10.6, a new high since October 2023. It last traded at $10.22, up 2%, with 11.484 million shares traded, involving $119 million.

　　A food information platform in China cited netizens in many regions in China that TINGYI raised the prices of some instant noodles since 1 July, where some of them showed a document with a company stamp claiming TINGYI would adjust the ex-factory price of its classic series products starting 1 July.

　　The customer service of the official flagship store on TINGYI's e-commerce platform also confirmed that the prices of TINGYI's classic series of instant noodles were uniformly adjusted nationwide. However, this price hike was different from the previous rumors of “across-the-board price hike”, as this time was limited to its classic series of instant noodles.

　　TINGYI has not yet responded officially.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-04 16:25.)

　　AAStocks Financial News