Hang Lung Properties sinks to 24-year-low as H1 profit drops
** Shares of property group Hang Lung Properties 0101.HK drop 15.2% to HK$5.42, their lowest since June 2000
** Stock last down 11.6%, on track for the biggest one-day pct drop since October 1997
** Top pct loser on Hang Seng Index .HSI and on Hang Seng sub-index tracking property firms .HSNP, which down 2.9% and 1.4% respectively
** The property developer said its H1 underlying net profit fell 22% Y/Y to HK$1.74 bln ($222.77 mln) and net profit down 55.7% to HK$1.06 bln
** More than 62 million shares traded, compared to 30-day avg of 13.3 million shares
** Controlling shareholder Hang Lung Group 0010.HK falls 5.4% to HK$8.48, lowest since July 10
** Hang Lung Properties down 48% YTD
($1 = 7.8106 Hong Kong dollars)
Reporting by Donny Kwok
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