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Jul 30, 2024 - 14:06
By asia.nikkei.com

Hong Kong developer Hang Lung's shares sink 15% after profit cut

HONG KONG -- Hang Lung Properties, one of the largest real estate developers in Hong Kong, saw its stock price plunge by double-digits on Tuesday after it reported disappointing earnings.

The Hong Kong-listed shares were trading around their previous close in the morning session, but after the company announced its latest financials during the lunch break, the price dropped by as much as 15%. Hang Lung's stock finished the day at 5.64 Hong Kong dollars, down 12%.