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Suning Gains as Struggling Chinese Retailer Appoints Ex-Sun Art Head as Chairman
Wang Hai
Suning Gains as Struggling Chinese Retailer Appoints Ex-Sun Art Head as Chairman
(Yicai Global) July 30 Shares in Suning.com jumped as much as 6 percent today after the ailing Chinese retailing giant announced that it had appointed the former chairman of hypermarket operator Sun Art Retail Group, and the force behind the success of the RT Mart chain, as its new chairman.
Suning.com’s share price [SHE:002024] was trading up 1.38 percent at CNY5.89 (USD0.91) at 2 p.m. China time today. Earlier in the day it had reached CNY6.15. Yesterday the firm’s stock soared by the exchange-imposed limit of 10 percent. ....

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