HK-listed ITC hits over 9-1/2 yrs low on weak earnings forecast

ITC Neocloud

11/11/2019 07:26

** Shares of property investor and hotel operator ITC
Properties Group Ltd  0199.HK  fall as much as 17.9% to HK$1.15,
the lowest since March 2010 
    ** Company says it expects to record a significant net loss
for six months ended in September, compared with a net profit
for the same period a year ago, amid decrease in fair value of
its investment properties and loss in joint venture  urn:newsml:reuters.com:*:nFWN27O0B0
    ** As of Friday's close, the stock had fallen 34.6% this
year
    ** Hong Kong-based ITC Properties has underperformed the
Hang Seng Commerce & Industry Index sector  .HSNC  by 8.0
percentage points in the past one month
    ** The Hong Kong Hang Seng sub-index tracking property firms
 .HSNP  drops 4.04%
    ** The Hong Kong benchmark index  .HSI  declines 2.8%

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)