{"id":318855,"date":"2011-03-18T07:13:06","date_gmt":"2011-03-18T07:13:06","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/03\/18\/hutchison-shares-slump-on-debut\/"},"modified":"2011-03-18T07:13:06","modified_gmt":"2011-03-18T07:13:06","slug":"hutchison-shares-slump-on-debut","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/03\/18\/hutchison-shares-slump-on-debut\/","title":{"rendered":"Hutchison shares slump on debut"},"content":{"rendered":"

\n \t\t
\n 18 March 2011<\/span>
\nLast updated at <\/span>03:13 ET<\/span>
\n<\/span><\/p>\n

Shares in Hutchison Whampoa’s port business have slumped 6% on their market debut.<\/p>\n

Hutchison shares slid as low as $0.95 on the Singapore stock exchange, down from their original listing price of $1.01.<\/p>\n

It raised $5.5bn (\u00a33.4bn) by selling its stake in Hutchison Port Holdings (HPH) Trust earlier this month.<\/p>\n

The share sale was the biggest initial public offering executed through Singapore’s markets.<\/p>\n

HPH operates two of the world’s biggest container ports in Hong Kong and Shenzen.<\/p>\n

The trust’s terminals handled a record 21 million 20-foot containers in 2010, 17% more than the pervious year. <\/p>\n

Hutchison Whampoa is controlled by the Hong Kong billionaire Li Ka-shing. <\/p>\n

Bad timing<\/span><\/p>\n

\n\tContinue reading the main story<\/a>\t<\/p>\n

\u201cStart Quote<\/span><\/h2>\n
\n

Hutchison is a huge issue coming out in a volatile market and the reception is going to be sentiment-driven\u201d<\/p>\n<\/blockquote>\n

End Quote<\/span>
\n\tCarey Wong<\/span>
\n\tOCBC Investment Research<\/span><\/p><\/div>\n

Sea-borne trade has been rising as demand for Asian goods picks up pace in the wake of the global recovery.<\/p>\n

While this means more business for the port operator, analysts say the timing of its stock listing has not been the best. <\/p>\n

Asian shares have been declining in wake of the earthquake and tsunami in Japan. <\/p>\n

There are concerns about the damage caused by the earthquake and tsunami, not only on Japan but also on the recovery of the region’s other economies.<\/p>\n

Analysts say the negative sentiment in the market is having an impact on HPH’s stock price.<\/p>\n

“Hutchison is a huge issue coming out in a volatile market,” said Carey Wong of OCBC Investment Research. <\/p>\n

“The reception is going to be sentiment-driven,” he added. <\/p>\n

Investors also fear that a slowdown in growth will affect the container business, hitting profits at the company.<\/p>\n<\/p><\/div>\n<\/p>\n

See the original post:
\nHutchison shares slump on debut<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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