Property services group KWG hits record low; co says chairman not assisting investigation

Kwg Living group

08/12/2021 02:28

** Shares of Chinese property management services provider
KWG Living Group Holdings Ltd  3913.HK  fall 6.5% to HK$4.20,
their lowest since debut in October last year 
    ** Stock set for the worst day since Nov 26; biggest
percentage decliner on Hang Seng Composite Index  .HSCI  and on
the index tracking properties and construction stocks  .HSCIPC  
    ** KWG said late on Tuesday that its chairman Kong Jianmin
has not been requested to provide investigatory assistance by
the relevant authority in Guangzhou and is not subject to
departure restrictions, denying recent press reports (https://bit.ly/3Gpvkkw)
    ** Guangdong, China-based company says Kong performs his
duty as normal and the company's business and operations are as
usual
    ** Hang Seng Mainland Properties Index  .HSMPI  gains 0.1%,
and the Hang Seng Composite Index tracking properties and
construction stocks  .HSCIPC  slips 0.3%
    ** The Hang Seng Composite Index  .HSCI  eases 0.1% and the
benchmark index  .HSI  slides 0.3%
    ** As of last close, the stock had fallen 28.7% this year

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