Rusal's Hong Kong shares plunge on weak H2 outlook amid Russia's new export taxes

China Hongqiao

16/08/2021 05:20

** Hong Kong-listed shares  0486.HK  of aluminium producer
Rusal drop 5.1% to HK$5.41, biggest daily pct decline since June
29
    ** Stock on course for first drop since Aug. 5, tracking a
3.8% fall in its Moscow-listed shares on Friday; third biggest
percentage decliner on Hang Seng material index  .HSCIM 
    ** Rusal said on Friday its financial performance in the
second half of 2021 could be affected by Russia's new metal
export taxes, as well as the impact of the pandemic, despite
strong results for January-June  urn:newsml:reuters.com:*:nL1N2PK17P
    ** Hong Kong's material index  .HSCIM  slips 0.6% and the
benchmark Hang Seng Index  .HSI  down 0.8%
    ** Hong Kong-listed shares of Rusal, the world's third
largest aluminium producer behind China's Chinalco  601600.SS 
and China Hongqiao  1378.HK , surged 57.9% this year as of last
close
    ** Shanghai-listed Chinalco falls 2.1%, while Hong
Kong-listed China Hongqiao  1378.HK  climbs 1%

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