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** Shares of China Modern Dairy Holdings Ltd rise as much as 7.5% to HK$1.87, the highest since June 8, on course for third consecutive session of gains

** Anhui-based raw milk producer expects to record a profit of not less than 460 mln yuan ($71.2 mln) for six months ended in June, an increase of not less than 100% from a year-ago period

** China Mengniu Dairy Corp backed company says the increase is due to double-digit growth in its raw milk production and sales volume, cost reduction and effective control of costs and expenses

** Shares of Mengniu Dairy rises 2.4%; the sixth biggest percentage gainer in the China Enterprises Index

** The Hong Kong composite Industry Index tracking consumer staples gains 0.3%

** The Hang Seng China Enterprises Index slips 0.9%, and the benchmark index eases 0.3%

** As of last close, the stock had slid 6.5% this year