ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Property

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

Revenue decline at high-end mainland shopping malls 'worse than expected'

Plaza 66, located on the ritzy Nanjing Road in downtown Shanghai, is the major breadwinner for Hong Kong's Hang Lung Properties but has suffered from changing consumer behavior.   © AP
KENJI KAWASE and PEGGY YE, Nikkei staff writers | Hong Kong

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%.

Read Next

Latest On Property

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more