Property developers in negative column

Business | 12 Jun 2019 1:39 pm

Shares of property developers declined in morning trading today, after Goldin Financial (0530) forfeited the HK$25 million deposit for a commercial plot at Kai Tak which it won by tender last month.

New World Development (0017) fell by 3.93 percent to HK$11.74 and Sino Land (0083) dropped by 2.6 percent to HK$12.76. Henderson Land Development (0012) gave up 2.29 percent to HK$40.55.

Also, mobile phone parts manufacturers suffered, with Sunny Optical Technology (2382) slumping by 6.45 percent to HK$68.85, becoming the biggest loser among blue-chip stocks in the morning trading session.

US Commerce Secretary Wilbur Ross said yesterday that Presidents Donald Trump and Xi Jinping will not strike a “definitive deal” to end the trade war on the sidelines of the G20 meeting. 

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