BUZZ-CK Hutchison falls most in 9 months after Panama court annuls key port contracts

Update stock moves, adds prices in bullet 3, and comment in bullet 6

** Shares of CK Hutchison Holdings 0001.HK fall as much as 5.7% to HK$62.55, their biggest intraday pct drop since April 7

** Stock hits its lowest point since January 23, snapping eight consecutive sessions of gain

** Shares trim loss to HK$63.15, still down 4.8%

** Stock is top pct loser in the Hang Seng Composite Index, which tracks conglomerates .HSCIC and is down 3.7%

** Panama's Supreme Court late on Thursday annulled key port contracts held by a subsidiary of Hong Kong-based CK Hutchison, ruling that the contracts were unconstitutional and leaving the future of the operations along the Panama Canal unclear

** CK Hutchison's Panama Ports Company said on Friday it had not been notified of the court's decision but considered the ruling inconsistent with the legal framework and laws that had allowed it to operate the ports

** YTD, stock up 19.4%, benchmark Hang Seng Index .HSI up 7.1%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))