China Resources Cement drops most in 12 months on weak earnings outlook

China Resources Building Materials Technology Holdings

13/10/2023 08:45

** Shares of China Resources Cement Holdings Ltd  1313.HK 
drop 9% to HK$1.93, on course for the biggest one day pct drop
since Oct 7, 2022 if losses hold
    ** Stock on track to snap two straight sessions of rises;  
second biggest pct loser in Hang Seng Composite Index on
properties and construction stocks  .HSCIPC 
    ** Chinese cement maker expects its 9-month net profit to
drop 59%-63% YoY amid lower products selling price and lower
sales volume 
    ** Hang Seng Composite Index on properties and construction
stocks  .HSCIPC  drops 2.4%, Hang Seng Index  .HSI  falls 2.2%
    ** Stock down 53.4% YTD 
    


 (Reporting by Donny Kwok; editing by Christina Fincher)
 ((donny.kwok@thomsonreuters.com))