Geely Auto shrs up 7 pct to record on upbeat sales target

Newswire

HONG KONG, Dec 7 (Reuters) - Shares of Geely Automobile Holdings Ltd rose more than 7 percent to record high on Monday after the Chinese carmaker said it aimed to sell 400,000 vehicles in 2010, up by a third from 2009.

The stock rose to a record HK$4.37, up 7.11 percent, before easing slightly to HK$4.35 at noon.

The company also said it planned to boost capital spending by up to 43 percent to 1 billion yuan initially in 2010, and will continue to seek acquisition ...

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