China Overseas Land falls as December contracted sales drop

China Overseas Land & Investment

08/01/2024 05:10

** Shares of China Overseas Land & Investment Ltd  0688.HK 
fall nearly 4% to HK$12.62, lowest since Dec 11
    ** Stock on track for biggest one-day pct decline since Jan
2 if trend holds; second biggest pct loser in the Hang Seng
Property Index  .HSNP 
    ** Chinese property developer says its contracted property
sales for December dropped 40.1% YoY to 22.78 bln yuan ($3.18
bln), with gross floor area sold down 50.2% YoY to 983,500
square meters
    ** The Hang Seng Property Index falls 1.9%, the Hang Seng
Mainland Properties Index  .HSMPI  drops 2.2% and the Hang Seng
Index  .HSI  down 2%
    ** Stock down 7.8% YTD 
($1 = 7.1570 Chinese yuan)

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