Developer Chinese Estates hits 3-week low on weak earnings forecast

Chinese Estates Holdings

21/02/2019 04:35

** Shares of property developer Chinese Estates Holdings ltd
 0127.HK  fall as much as 3.2 pct to HK$8.75, the lowest since
Jan. 30, after three straight sessions of gains 
    ** The Hong Kong-based property firm expects its 2018 net
profit to fall 68-78 pct, with revenue seen declining 39-49 pct
amid decrease in sale of trading properties  urn:newsml:reuters.com:*:nFWN20E15J
    ** Co says net loss from listed investments and treasury
products, and decrease in gain on fair value changes on
investment properties also hit results   
    ** As of the previous close, the stock has risen 6.4 pct so
far this year 
    ** The Hong Kong Hang Seng sub-index tracking property firms
 .HSNP  gain 0.6 pct
    ** The Hong Kong benchmark index  .HSI  climbs 0.5 pct

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