HK-listed Guangzhou R&F Properties falls on weak August sales

Guangzhou R&F Properties

18/09/2023 06:00

** Shares of Guangzhou R&F Properties Co  2777.HK  fall 7.6%
to HK$1.45; on course for third consecutive session of decline
    ** Stock set for biggest one-day pct drop since Aug. 23, if
losses hold; fourth-biggest pct loser in Hang Seng Composite
Index on properties and construction stocks  .HSCIPC  
    ** Property developer says total contracted sales in August
amounted to 698 mln yuan ($95.8 mln), bringing total contracted
sales for Jan-Aug to 15.23 bln yuan, down 71.7% YoY and 50.6%
YoY, respectively
    ** Hang Seng Mainland Properties Index  .HSMPI  declines
1.4% and Hang Seng Composite Index on properties and
construction stocks  .HSCIPC  falls 1.3%
    ** Hang Seng Composite Index  .HSCI  slips 0.8% while Hang
Seng Index  .HSI  eases 1%
    ** As of last close, stock had fallen 17.4% YTD
    
($1 = 7.2857 Chinese yuan renminbi)

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