HONG KONG -- The Hong Kong-listed shares of CK Hutchison Holdings, the business empire controlled by the family of local tycoon Li Ka-shing, fell on Friday, the day after the group announced its annual earnings and cut its dividend.
The stock price declined by 3.6% to 43.25 Hong Kong dollars, outpacing the 2.2% drop of the benchmark Hang Seng Index, which closed the week at 23,689.72. CK Asset Holdings, another flagship conglomerate under Li Ka-shing's family, tumbled 5.8% to HK$31.70, after the company announced a 20% fall in its annual net profit to HK$13.65 billion ($1.75 billion).
