China Vanke's Hong Kong shares hit 6-week low after unit's weak debut

Onewo

29/09/2022 06:20

** Hong Kong shares of China Vanke Co Ltd  2202.HK  slip
2.1% to HK$14.16, their lowest since Aug. 17, and on course for
a second straight session of fall
    ** Stock tracks a weak debut of its property services arm,
Onewo Inc  2602.HK , in Hong Kong  urn:newsml:reuters.com:*:nL1N310039
    ** Onewo shares trade as low as HK$45.45, down 7.9% from the
IPO price of HK$49.35
    ** That compares to a 1.1% gain in the benchmark Hang Seng
Index  .HSI  and a 1.4% rise in the Hang Seng Composite Index
 .HSCI  
    ** Onewo raised $733 mln from its initial public offering
for business development, building up industrial internet and
for acquisitions 
    ** China Vanke's Shenzhen shares  000002.SZ  slip 0.5% 
    ** The Hang Seng Mainland Properties Index  .HSMPI  drops
2.9% and the Hang Seng Composite Index on properties and
construction stocks  .HSCIPC  eases 0.8%
    ** As of last close, Vanke's Hong Kong-listed stock had
fallen 20.3% this year
 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))