Homepage
PR Newswire
12-06-2018, 02:48 PM
World's Largest Pork Producer Becomes Hong Kong's Worst Stock
By Kana Nishizawa and Jeanny Yu
June 12, 2018, 1:11 PM GMT+8
Analysts can blame the U.S.-China trade spat for turning their favorite pork producer into the worst performer on Hong Kong’s benchmark Hang Seng Index.
WH Group Ltd., the world’s largest pork company, sank 3.6 percent on Tuesday at the midday break in Hong Kong, taking its three-day loss to 11 percent to become the year’s worst performer on the index. With the company getting more than half of its revenue from the U.S., investors are fleeing the stock ahead of a June 15 deadline for announcing the Chinese products that will be subject to 25 percent tariffs.
"The majority of people tend to think the tariffs are really coming," said Linus Yip, strategist at First Shanghai Securities. "The market is looking to reduce risks on related companies. WH Group is among companies with heavy exposure to the U.S."
More details in https://www.bloomberg.com/news/articles/...orst-stock
By Kana Nishizawa and Jeanny Yu
June 12, 2018, 1:11 PM GMT+8
Analysts can blame the U.S.-China trade spat for turning their favorite pork producer into the worst performer on Hong Kong’s benchmark Hang Seng Index.
WH Group Ltd., the world’s largest pork company, sank 3.6 percent on Tuesday at the midday break in Hong Kong, taking its three-day loss to 11 percent to become the year’s worst performer on the index. With the company getting more than half of its revenue from the U.S., investors are fleeing the stock ahead of a June 15 deadline for announcing the Chinese products that will be subject to 25 percent tariffs.
"The majority of people tend to think the tariffs are really coming," said Linus Yip, strategist at First Shanghai Securities. "The market is looking to reduce risks on related companies. WH Group is among companies with heavy exposure to the U.S."
More details in https://www.bloomberg.com/news/articles/...orst-stock
Specuvestor: Asset - Business - Structure.