UPDATE 1-Qingling Motors shrs fall further after H1 results

Newswire

(Adds analysts comments, details) By Charlie Zhu HONG KONG, Aug 29 (Reuters) - Shares of Chinese truck maker Qingling Motors tumbled about seven percent on Thursday morning, adding to an 18 percent loss on Wednesday, after its first-half profit plunged in the face of harsh competition. Merrill Lynch analyst Grace Mak said she had downgraded the stock to "reduce" from "neutral" after Qingling's earnings tumbled 65 percent -- much more than she had expected. Mak cut her 2002 net profit ...

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