HK-listed Chinasoft plunges after key client Huawei CFO arrest

Chinasoft International

06/12/2018 02:41

** Shares of Chinasoft International Ltd  0354.HK  fall as
much as 13 pct to HK$4.01, lowest since Oct 19, tracking a slump
in Huawei's suppliers and partners as investor fret over the
arrest of Huawei's CFO in Canada
    ** Stock posts its biggest intraday pct drop since April 26,
when co's shares had dived in relation to U.S. probe of its key
client Huawei  urn:newsml:reuters.com:*:nL3N1S32XQ
    ** Stock last down 11.7 pct at HK$4.08   
    ** Canada has arrested Huawei's global chief financial
officer in Vancouver, where she is facing extradition to the
United States, Canada's Department of Justice said on Wednesday
 urn:newsml:reuters.com:*:nL1N1YA1YR
    ** As of last close, shares of Beijing-headquartered
information technology-related services provider Chinasoft
International had declined 11.2 pct this year
    ** The Hang Seng sub-index tracking information technology
firms  .HSCIIT  dips 2.5 pct

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