HK conglomerate Wharf set for worst day in 5 months after weak H1
09/08/2018 08:46
** Shares of Wharf (Holdings) Ltd 0004.HK fall 4.8 pct to
HK$24.65, their lowest since July 3, after the
property-to-retail conglomerate posts weak first-half results
** The stock is poised for its biggest single day of
percentage decline since March 9
** Co says H1 net profit falls 66 pct as revenue from China
development properties declines amid administrative measures to
cool the property market on the mainland urn:newsml:reuters.com:*:nFWN1V0039
** As of the previous close, the stock had fallen 4.07
percent so far this year
** Wharf has outperformed the Hang Seng Commerce & Industry
Index sector .HSNC by 2.8 percentage points in the past one
month
** As of 0730 GMT, about 4.34 million shares of the Hong
Kong-based company change hands, compared with their 30-day
moving average of 3.63 million shares a day
** Among the 16 analysts that cover Wharf, the current
average rating on the shares is "hold"; the breakdown of
recommendations is four "strong buy" or "buy", 10 "hold" and two
"sell" or "strong sell". The mean price target is HK$31.12
** Hong Kong benchmark index .HSI rises 0.9 pct
(Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)