BUZZ-Alibaba Pictures slides after lower H1 profit

Reuters11-21 11:39

** Shares of Alibaba Pictures Group Ltd fall 7.4% to HK$0.44, their lowest since Oct. 18; set to snap two consecutive sessions of gains

** Stock on course for biggest one-day pct decline since Oct. 15

** Alibaba-backed movie distribution group says H1 net profit for six-months ended Sept fell 27% Y/Y to 336.6 mln yuan ($46.48 mln)

** "The decline in both box office and the number of viewers has left movie studios facing a more complicated profitability dilemma" - Co

** Hang Seng Commerce & Industry Index gains 0.1%, while Hang Seng Tech Index eases 0.5% and Hang Seng Index slips 0.1%

** Stock down 1% YTD

($1 = 7.2423 Chinese yuan renminbi)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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