HK Stock Market Move | CKH HOLDINGS (00001) plunged more than 5% in the morning, reportedly due to a ruling by the Supreme Court of Panama declaring the port contract unconstitutional.

CKH HOLDINGS (00001) plunged more than 5% in the morning, with a drop of 5.2% to 62.85 Hong Kong dollars as of press time, with a turnover of 497 million Hong Kong dollars. On the news front, according to Sina Hong Kong stock news, the Supreme Court of Panama ruled that the operating contracts for two ports near the Panama Canal obtained by Hutchison Whampoa Limited (a subsidiary of CKH HOLDINGS) are unconstitutional, dealing a blow to the company's ongoing port asset sale plan. It is reported that Hutchison Ports, a subsidiary of CKH HOLDINGS, holds a 90% stake in the Panama port company, which owns and operates the Balboa and Cristobal ports in Panama.