Yum China's HK shares fall most in 7 weeks as Delta variant hits profit

Jiumaojiu International Holdings

15/09/2021 04:41

** Hong Kong shares of Yum China Holdings Inc  9987.HK  fall
3.7% to HK$460, set for biggest daily percentage decline since
July 27
    ** Stock sinks to lowest since Aug 23, and on course for
third consecutive session of fall
    ** The KFC operator said on Tuesday its adjusted operating
profit would take a 50% to 60% hit in Q3 as the spread of the
COVID-19 Delta variant in China led to restaurant closures and
"sharply reduced sales"  urn:newsml:reuters.com:*:nL4N2QG3YS
    ** Co said over 500 of its restaurants in 17 provinces were
closed or offered only takeaway and delivery service at the peak
of the Delta variant's outbreak in August, leading to a
mid-teens percentage drop in same-store sales
    ** Chinese hot-pot chain Haidilao International  6862.HK 
drops 3.7% to HK$30.25, and restaurant chain operator Jiumaojiu
International  9922.HK  slips 2.8% to lowest since Aug 24
    ** The Hong Kong Hang Seng consumer goods and services index
 .HSCGSI  falls 1.4%
    ** The Hang Seng China Enterprises Index  .HSCE  slips 0.5%
and the benchmark index  .HSI  eases 0.8%
    ** As of last close, Hong Kong shares of Yum China had
gained 7.4% this year

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