HNA's Hong Kong property unit skids to 4-week low on H1 loss estimate

Tysan Holdings

02/08/2019 05:23

** Shares of property developer Hong Kong International
Construction Investment Management Group Co Ltd  0687.HK  fall
as much as 4.1% to HK$1.41, lowest since July 2
    ** Stock on track for a third straight session of decline
    ** Co, a unit of China's HNA Group  HNAIRC.UL , expects to
record a loss of no less than HK$1.1 bln ($140.7 mln) for the
first half of 2019, compared with HK$1 bln profit a year ago
 urn:newsml:reuters.com:*:nFWN24X0XN
    ** Co says weak performance is due to one-off loss from sale
of assets, fair value losses of investments and operating loss 
    ** As of Thursday's close, stock had risen 13.8% this year
    ** The developer has outperformed the Hang Seng Commerce &
Industry Index sector  .HSNC  by 8.7 percentage points in the
past month
    ** The Hong Kong Hang Seng sub-index tracking property firms
 .HSNP  drops 1.8%
    ** The Hang Seng China enterprises index  .HSCE  slides
2.7%, and the benchmark index  .HSI  falls 2.4%
($1 = 7.8194 Hong Kong dollars)

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)