Shares of CK Hutchison 1 fall as much as 6.7% to HK$46.10, their lowest since March 5, as China rebukes Hong Kong conglomerate’s ports deal with BlackRock.

CK Hutchison stock last down 4.9%, set for biggest one-day pct drop since May 2023.

Top pct loser on Hang Seng Index HSI, Hang Seng Commerce & Industry Index HHSCI, which is up 1.7% and 2.2%, respectively.

CK Hutchison, which recently sold its Panama Canal ports, should think twice about which side it wants to stand with, SCMP reported, citing newspaper commentary posted by Beijing’s top office for the city’s affairs on its website.

The commentary was first published by pro-Beijing publication Ta Kung Pao and shared in full by Beijing’s Hong Kong and Macau Affairs Office on its official website on Thursday night, SCMP said.

CK Hutchison stock up 13.1% YTD.
Source: Reuters