Shares of HK developers among biggest decliners as violent protests escalate

Swire Properties

29/07/2019 05:46

** Hong Kong-listed shares of property developers are among
biggest losers that weigh down the benchmark Hang Seng Index
 .HSI  
    ** Six of 10 biggest bottom movers in the index are
property-related stocks
    ** Wharf Real Estate Investment Co  1997.HK  and New World
Development  0017.HK , which own some of the major shopping
malls in the city, drop 4% and 3.8% respectively
    ** The property sub-index  .HSNP  down 2.4%
    ** Swire Properties  1972.HK  loses 4.5% 
    ** The share drop follows another weekend of clashes between
protesters and police, who fired rubber bullets and tear gas as
the demonstrations grew increasingly violent  urn:newsml:reuters.com:*:nL4N24T065
    ** Retailers said earlier this month they expect sales for
July and August to drop by double-digits from a year earlier due
to large and sometimes violent protests  urn:newsml:reuters.com:*:nL4N24H1YL
    ** HK's most valuable developer Sun Hung Kai Properties
 0016.HK  falls 1.2% and is sixth-most heavily traded stock
    ** Hang Seng Index  .HSI  is down 1.2%

 ((Reuters Messaging: clare.jim.thomsonreuters.com@reuters.net))