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Budget News

  • Hong Kong Market tumbles on downbeat earnings
  • March 22,2024  17:23
  • Hong Kong share market finished session steep lower on Friday, 22 March 2024, as investors digested policy announcements from central banks, with risk sentiments dampened further on downbeat corporate earnings from bellwether companies.

    At closing bell, the benchmark Hang Seng Index tumbled 363.63 points, or 2.16%, to 16,499.47. The Hang Seng China Enterprises Index dropped 147.60 points, or 2.5%, to 5,757.67.

    In corporate news, Ping An Insurance sank 5.8% to HK$33.45 after full-year earnings slid to the lowest in five years in 2023.

    CK Asset Holdings plunged 11% to HK$32.85 and CK Hutchison Holdings lost 2.6% to HK$39.35 after the two Li Ka-shing owned companies reported lower profits for 2023.

    Orient Overseas (International) plunged about 17% as the logistics and realty player?s full-year profits missed expectations.

    CK Asset Holdings dropped nearly 11% after the property developer posted a lower profit for 2023.

    Samsonite International fell over 7% on news the luggage manufacturer is mulling a second listing, instead of going private.

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"1. Stock Brokers can accept securities as margin from clients only by way of pledge in the depository system w.e.f. September 1, 2020.
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