China's Kaisa hits one-year low after posting slower growth in property sales

Reuters2021-07-05

** Shares of Chinese property developer Kaisa Group Holdings Ltd fall as much as 3.4% to HK$2.81, their lowest since Jun. 29, 2020, and on course for third straight session of decline

** Stock on track for the worst day since June. 22

** Guangdong-based developer says it recorded contracted sales of 9.875 bln yuan ($1.53 bln) in June 2021, up 10.1% from the same period a year ago

** It is the slowest percentage growth in contracted sales since November 2020, which was up 4.4%

** The Hong Kong Hang Seng sub-index tracking property firms

climbs 1.2%, and Composite Industry Index tracking properties and construction stocks gains 0.1%

** The Hang Seng China Enterprises Index falls 1.5%, and the benchmark index slips 0.7%

** The stock had dropped 21.8% this year as of last close

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Comments

  • Gswk
    2021-07-07
    Gswk
    Still worth holding?[Glance] 
  • masran
    2021-07-05
    masran
    wow
  • Winnerwinner
    2021-07-05
    Winnerwinner
    This is interesting 
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