China's GOME Retail falls most in 3 weeks on halting share consolidation plan

GOME Retail Holdings

27/05/2022 04:43

** Shares of Chinese home appliances retailer GOME Retail
Holdings Ltd  0493.HK  fall as much as 6% to HK$0.39, the
biggest daily pct drop since May 5 
    ** Stock sinks to the lowest since May 18; sixth biggest
percentage decliner in the Hang Seng Composite Index  .HSCI  
    ** Co says its proposed consolidation of every 10 shares
into one consolidated share will not proceed amid volatile and
weak market  urn:newsml:reuters.com:*:nFWN2XI0ZC
    ** Says the new wave of COVID-19 has resulted in the largest
citywide control measures across China, including Beijing and
Shanghai, and the control measures and weak market sentiment has
resulted in a volatile market for the trading of shares
    ** The Hang Seng Commerce & Industry Index  .HSNC  surges
4.2% and the Hang Seng consumer goods and services index
 .HSCGSI  climbs 2.2%
    ** The Hang Seng Composite Index  .HSCI  rises 2.3% and the
benchmark Hang Seng Index  .HSI  jumps 2.9%


 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))