CK Hutchison shares fall after earnings, preaches the preaches Feijing Paper states security laws

Author Clare Jim

Hong Kong (Reuters) –kk Hutchison fell on Friday after reporting to poor earnings and dividends, while PRO -Beijing newspaper published a new editorial board saying that controversial sales of Luke could potentially violate Hong Kong National Security Acts.

The telecommunication conglomerate to sales, owned by the billionaire of K-shing, was caught in a Chinese intersection in a highly politicized contract with a Blackkock consortium, which includes the sale of property near the strategically important Panaman Canal. The business is expected to raise more than $ 19 billion in cash.

US President Donald Trump welcomed the agreement after he had previously invited Panama channel to be removed from what he said was Chinese control.

In his last introductory on Friday, urging that the transaction be abolished, the Pro-Beijing Hong Kong newspaper Ta Kung Pao said that the “perfect cooperation” contract with the US strategy contained China, which would cause infinite damage to the Chinese economy and national interests.

He added that they are now trying to control key ports to influence the global logistics network and put pressure on the Chinese trade and supply chain.

“The biggest principle of ‘one country’s policy, two systems’ is the protection of national interests for sovereignty, security and development (which) recorded in the Hong Kong Law last year and has become a legally binding provision,” the editor said.

“From this perspective, the consequence of this transaction is that it would threaten the interests of national security and development, directly violating that provision of the principle.”

Last year, Hong Kong passed the new National Security Act, known as Article 23, despite the concerns of the Western governments that freedom will be further undermined at the financial center.

Since his return from British to Chinese rule in 1997, Beijing has promised the city a high degree of autonomy under the so -called “One Dealth, Two Systems” management models.

The City Security Office and CK Hutchison did not immediately respond to Reuters’ request for comment on the editorial board.

This Kung Pao had already announced two comments last week by criticizing CK Hutchison and said that the sale of the betrayal of China was neglected by national interests. The Chinese office in Hong Kong and Macau, a top body that oversees the Hong Kong affairs, has announced both comments.

CK Hutchison shares closed by 3.6%, compared to 2.2% of the drop of the main Hang Seng index.

In a statement of CK Hutchison earnings, he did not mention the port agreement, although he said “geopolitical and trade tension … significantly increased.”