China's BAIC Motor falls most in nearly 2 weeks as chairman resigns

Baic Motor

19/05/2022 03:59

** Shares of China's passenger vehicles maker BAIC Motor
Corp Ltd  1958.HK  fall 3.3% to HK$2.36, the biggest daily pct
drop since May 6, if losses hold
    ** Stock on course for a second session of decline
    ** Beijing-based co says Jiang Deyi has resigned as chairman
due to "job arrangement adjustment" and the company has proposed
to appoint its party secretary Chen Wei to be the chairman of
the board  urn:newsml:reuters.com:*:nFWN2XA0XZ
    ** Co also says Liao Zhenbo has resigned as a non-executive
director amid "change of job", and the company proposes to
appoint its deputy party secretary Zhang Guofu as an executive
director 
   ** The Hang Seng Composite Index on industrials  .HSCIIG 
falls 1.7%, the Hang Seng Composite Index  .HSCI  drops 2.6% and
the benchmark Hang Seng Index  .HSI  declines 2.8%
    ** As of last close, the stock had fallen 27.2% this year

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))