China's Country Garden falls on weak Nov. sales, rivals drop

China Overseas Land & Investment

06/12/2022 04:47

** Shares of China's property developer Country Garden
Holdings Co Ltd  2007.HK  fall as much as 4.5% to HK$2.96, on
track for their biggest daily pct slide since Nov 28, if losses
hold
    ** Stock is the second-biggest pct loser in Hang Seng
property index  .HSNP , eighth biggest pct decliner in Hang Seng
Composite Index on properties and construction stocks  .HSCIPC  
    ** Guangdong-based developer, with market value at $9.95
bln, says its contracted sales attributable to the shareholders
amounted to 26.01 bln yuan ($3.73 bln) in November, down 37.1%
from 41.35 bln yuan the same period in 2021  urn:newsml:reuters.com:*:nFWN32T07U
    ** Shares of rivals China Overseas Land  0688.HK , China
Resources Land  1109.HK , and Longfor Group  0960.HK  fall
between 1.2% and 5.6%  
    ** The Hang Seng property firms  .HSNP  eases 0.8% and the
Hang Seng Composite Index on properties and construction stocks
 .HSCIPC  slips 0.9%
    ** The Hang Seng Mainland Properties Index  .HSMPI  drops
2.3% while the Hang Seng Index  .HSI  eases 0.9%
    ** As of last close, the stock of Country Garden had fallen
55.2% this year
($1 = 6.9792 Chinese yuan)
($1 = 7.7728 Hong Kong dollars)
 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))