HALISTER1: Hong Kong Stocks Slide Toward Biggest 3-Day Loss in a Month

Hong Kong Stocks Slide Toward Biggest 3-Day Loss in a Month

(Bloomberg) -- The Hang Seng Index fell 0.8% Friday morning and the Hang Seng China Enterprises Index tumbled 1.2%.
  • Developers led declines on the HSI, with Sun Hung Kai Properties Co. falling the most -- down 2.2% -- after Nomura downgraded co. to neutral, saying positives already largely reflected in recent outperformance
  • The HSI is heading for 3-day decline of 1.3%, which would be biggest such drop since Aug. 9-11; index has posted eight straight months of gains
  • HSCEI in line for 3-day loss of 2.2%, biggest since Aug. 9-11 also
  • Anhui Conch Cement Co. is main loser, falling 3.6% after recent rally on strong cement-price outlook; was one of the top gainers on index Thursday
  • BYD Co. also lower, down 2% after 4% loss Thursday; climbed more than 20% Monday-Wednesday on Chinese plan to phase out fossil-fuel powered vehicles
To contact the reporter on this story: Will Davies in Hong Kong at wdavies13@bloomberg.net To contact the editors responsible for this story: Robin Ganguly at rganguly1@bloomberg.net Will Davies

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
914 HK (Anhui Conch Cement Co Ltd)
1211 HK (BYD Co Ltd)
16 HK (Sun Hung Kai Properties Ltd)

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