HK's telecom group PCCW hits 12-week low after posting FY loss

Pccw

26/02/2024 07:48

** Shares of telecommunications and technology group PCCW
Ltd  0008.HK  drop as much as 6.2% to HK$3.91, their lowest
since Dec. 5
    ** Stock on track for the biggest one-day pct drop since May
2022 if losses hold; biggest pct loser in Hang Seng Composite
Index on telecommunication stocks  .HSCIT  
    ** PCCW says its 2023 net loss amounting to HK$471 mln
($60.2 mln) as compared to HK$158 mln profit in 2022, with 
revenue up 1% to HK$36.3 bln 
    ** Hang Seng Composite Index on telecommunication stocks
 .HSCIT  falls 1.4%, while both Hang Seng Composite Index
 .HSCI  and Hang Seng Index  .HSI  slip 0.6%
    ** Stock down 4.6% YTD 


($1 = 7.8247 Hong Kong dollars)

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