HK's LH drops on restaurant closure on COVID hit; Cafe De Coral at over 11-yr low

Cafe De Coral Holdings

28/02/2022 03:09

** Shares of restaurant chain operator LH Group Ltd
 1978.HK  drop as much as 11.8% to HK$0.82, their lowest since
March 31
    ** Stock set for the biggest daily percentage drop since
June 7 
    ** Company says it has decided to suspend operation of all
its restaurants effective Feb 28 amid the recent outbreak of
COVID-19 pandemic in Hong Kong, and the management expects the
suspension will be in a temporary nature  urn:newsml:reuters.com:*:nFWN2V10CC
    ** Company also says dining restrictions imposed by the
government might affect its business operation 
    ** Shares of bigger rival Cafe De Coral  0341.HK  fall 3.1%
to HK$12.40, lowest since December 2008  
    ** Cafe de Coral will suspend most of its dine-in service to
focus on ­providing takeaways this week, while its other
eateries have temporarily ceased operations amid surging
Covid-19 infections and stringent business curbs, SCMP reported
citing senior executive (https://bit.ly/3po918v)
    ** Hang Seng consumer goods and services index  .HSCGSI 
drops 1.5%, index tracking consumer staples  .HSCICS  slips
0.6%, and the benchmark Hang Seng Index  .HSI  falls 1.2%


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