HK-listed CK Hutchison hits 8-month low on H1 profit drop

CK Asset Holdings

04/08/2023 03:08

** Shares of ports-to-telecoms conglomerate CK Hutchison
Holdings Ltd  0001.HK  fall 4.9% to HK$44.05, their lowest since
Dec. 8, and on course for a sixth consecutive session of decline
    ** Stock on track for biggest one-day pct drop since May 23
if losses hold; biggest pct loser in the Hang Seng Composite
Index  .HSCI , Hang Seng Index  .HSI  and the Hang Seng
Composite Index tracking conglomerates  .HSCIC  
    ** CK Hutchison posts 41% drop in net profit for the first
six months, hurt by a strong U.S. dollar and input cost
inflation
    ** Says its full-year outlook remains resilient from an
operational perspective due to its business and geographical
diversification
    ** Sister company CK Asset  1113.HK  says net profit during
the period dropped 19% amid discontinuation of an aircraft
leasing operation in 2022 and a drop in property developments
    ** Shares of CK Asset climb 0.5% 
    ** The Hang Seng Composite Index tracking conglomerates
falls 1.3%, while the Hang Seng Composite Index and the Hang
Seng Index both rise 1.7%

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