HK-listed PCCW falls most in over 10 weeks after concert accident

Pccw

29/07/2022 08:09

** Shares of telecommunication, pay-television services and
digital media group PCCW Ltd  0008.HK  fall 2.6% to HK$4.11, the
biggest daily pct decline since May 17 if losses hold
    ** Stock hits the lowest since June 23 and on track to end
the week down 2.6% in the worst week since mid-June
    ** Stock is the third-biggest pct decliner in Hang Seng
Composite Index on telecommunication stocks  .HSCIT  
    ** A huge video panel fell on the stage during a concert by
popular Hong Kong boyband Mirror on Thursday, crushing one
performer and trapping others, prompting a government
investigation and the suspension of future shows  urn:newsml:reuters.com:*:nL4N2Z94ZN
    ** MakerVille, the concert organiser which is owned by PCCW
Media Group, said it was thoroughly investigating the cause of
the accident
    ** PCCW Media is a unit of HKT Trust and HKT  6823.HK ,
which is controlled by PCCW Ltd   
    ** Hong Kong Chief Executive John Lee said on Friday the
government would investigate and review safety procedures to
protect performers, staff and the public
    ** The Hang Seng Composite Index on telecommunication stocks
 .HSCIT  slips 0.2%, while the Hang Seng Composite Index  .HSCI 
and the Hang Seng Index  .HSI  both drop 2.7%


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