HK's Oriental Watch hits 10-year high as China powers robust earnings estimates

** Shares of Oriental Watch Holdings Ltd rise as much as 8.9% to HK$4.40, the highest since August 2011

** The watches trader and retailer expects profit for fiscal year ended in March to amount to over HK$225 mln ($29 mln), higher than the HK$100 mln a year earlier

** Says profit boosted by significant growth in revenue in the Mainland China market as consumers increased their spending locally due to travel restrictions amid the COVID-19 pandemic

** Stock on course for the best session since Nov. 26, 2020; among the 30 biggest percentage gainers on the Hong Kong bourse

** The Hong Kong Hang Seng consumer goods and services index

gains 0.6%, and the benchmark index climbs 0.4%

** The stock had surged 52.5% this year as of last close