China State Construction at new 6-yr low, Daiwa says pressures to persist

China State Construction International Holdings

24/10/2018 08:01

** Stock of China State Construction International Holdings
 3311.HK  fall as much as 5.6 pct to HK$5.93, the lowest since
May 2012 and is set for its third straight session of decline
    ** The shares of the infrastructure construction group have
fallen nearly 20 pct in the last 3 trading sessions   
    ** Daiwa says the company's cash flow and gearing pressure
will likely persist due to its increasing exposure to
infrastructure investment projects
    ** As of the last close, the stock had fallen 42.6 percent
so far this year
    ** China State Construction has underperformed the Hang Seng
Commerce & Industry Index sector  .HSNC  by 15.5 percentage
points in the past month
    ** The Hong Kong benchmark index  .HSI  eases 0.3 pct

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)