BUZZ-Haitong Securities' Hong Kong shares at record low on weak profit estimate

Reuters01-31

** Hong Kong shares of Haitong Securities Co Ltd fall 4.6% to HK$3.54, the lowest since debut in April 2012

** Stock on track for biggest one-day pct decline since Jan. 17; third biggest pct loser in Hang Seng Composite Index tracking financials stocks

** Shanghai shares down 4%

** Chinese financial services group expects its 2023 net profit to drop 84.6%-86% Y/Y to 918 mln-1.01 bln yuan ($127.8-$140.7 mln)

** Co says it experienced a significant decline in the valuation of its overseas financial assets amid market volatility and interest rate hikes in Europe and the U.S., leading to an increase in overseas interest expenses

** Hang Seng Composite Index tracking financials stocks

slips 0.6% and Hang Seng Index falls 1.6%

** Hong Kong-listed stock down 13.7% YTD, Shanghai shares down 6.2% YTD

($1 = 7.1809 Chinese yuan renminbi)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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