China's Hopson at over 6-week low as sales slip, rivals fall

Hopson Development Holdings

08/12/2023 04:06

** Shares of Hopson Development Holdings Ltd  0754.HK  fall
3.6% to HK$4.03, their lowest since Oct 24, on the second
session of decline
    ** Stock on track for the biggest one-day drop since Sept 25
if trends hold; sixth biggest pct loser in Hang Seng Composite
Index on properties and construction stocks  .HSCIPC 
    ** Shares on course to end the week down 7.6%, the biggest
weekly losses since mid-August 
    ** The Chinese property developer says gross contracted
sales for Jan-Nov period amounted to 27.7 bln yuan ($3.87 bln),
down 1.4% from 28.1 bln yuan the same period in 2022 
    ** Rival Sunac China  1918.HK  drops 5.4%, Country Garden
 2007.HK  falls 3.8% and China Evergrande  3333.HK  slips 0.8%
    ** Hang Seng Mainland Properties Index  .HSMPI  falls 2%,
Hang Seng Index  .HSI  slips 0.2%
    ** Hopson stock down 30.6% YTD 


($1 = 7.1532 Chinese yuan renminbi)

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