China's developer Guangzhou R&F falls as April sales tumbles

Guangzhou R&F Properties

15/05/2023 08:56

** Shares of Guangzhou R&F Properties Co Ltd  2777.HK  fall
as much as 5.5% to HK$1.37, their lowest since November 11 
    ** Guangdong-based property developer says its total
contracted sales for April were 1.66 bln yuan ($240.16 mln),
bringing the cumulative total contracted sales for the first
four months to 9.02 bln yuan 
    ** That compared to total contracted sales of 4.27 bln yuan
in April 2022 and 3.91 bln yuan for March 2023 
    ** Hang Seng Mainland Properties Index  .HSMPI  slips 0.5%
while Hang Seng Composite Index on properties and construction
stocks  .HSCIPC  climbs 0.9%
    ** Hang Seng Composite Index  .HSCI  rises 1.5% and
benchmark Hang Seng Index  .HSI  adds 1.6%
    ** As of last close, the stock had fallen 23.7% this year
    
($1 = 6.9121 Chinese yuan renminbi)

 (Reporting by Donny Kwok; editing by Barbara Lewis)
 ((donny.kwok@thomsonreuters.com))