HK-listed Techtronic drops most in 2-1/2 years after U.S. partners slump

Techtronic Industries Co

14/09/2022 06:49

** Shares of cordless power equipment maker Techtronic
Industries Co Ltd  0669.HK  drop as much as 11.1% to HK$88, set
to post biggest daily pct fall since March 2020 if losses hold
    ** Stock tracks a slump in U.S. partners, Walmart  WMT.N 
fell 2.1% on Tuesday and Home Depot  HD.N  dropped 6.6% after
inflation data 
    ** Techtronic hits the lowest since Sept. 7 and on track to
snap three consecutive sessions of gains; biggest pct decliner
in the Hang Seng Index  .HSI  and Hang Seng Commerce & Industry
Index  .HSNC 
    ** Shares of U.S. retailers dropped after data showed U.S.
consumer prices increased more than expected in August, piling
further pressure on a sector already battered by decades-high
inflation  urn:newsml:reuters.com:*:nL4N30K2GA
    ** The Hang Seng Commerce & Industry Index drops 2.9%, and
the Hang Seng consumer goods and services index  .HSCGSI 
plunges 3.5%
    ** The Hang Seng Composite Index  .HSCI  eases 2.4% and the
Hang Seng Index falls 2.6%
    ** As of last close, the Techtronic stock had dropped 36.2%
this year

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