China's Country Garden Services faces worst day in nearly 3 months on profit warning

Country Garden Services Holdings

06/03/2023 02:25

** Shares of property manager Country Garden Services
Holdings  6098.HK  drop as much as 9.2% to HK$14.56 - on track
for biggest daily pct decline since Dec 12, 2022, if current
losses hold
    ** Stock hits the lowest since Feb 28; biggest pct loser in 
the Hang Seng Index  .HSI , Hang Seng Composite Index on
properties and construction stocks  .HSCIPC , Hang Seng Property
Index  .HSNP  and Hang Seng Composite Index  .HSCI  
    ** Residential property management service provider says it
expects its 2022 net profit attributable to the shareholders to
drop as much as 57% from the previous year as COVID-19 lockdown
hit business activities and pandemic prevention expenses rose 
    ** The Hang Seng Property Index and the Hang Seng Composite
Index on properties and construction stocks both fall 0.9%
    ** The Hang Seng Mainland Properties Index  .HSMPI  drops
3.3%, while the Hang Seng Composite Index and the Hang Seng
Index both slip 0.4%

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