CK Hutchison Shares Plummet 6% Following Beijing Criticism on Port Sale

Shares of CK Hutchison experienced a significant decline of over 6% after China's Hong Kong and Macau Affairs Office criticized the company's sale of its ports business, including assets near the Panama Canal, to a consortium led by BlackRock. The state-backed Ta Kung Pao newspaper labeled the transaction a betrayal of Chinese interests, claiming it prioritizes profit over national concerns and urging the company to reconsider its decision. This criticism comes amidst geopolitical tensions, with U.S. President Trump endorsing the deal as part of a strategy to reduce Chinese control over critical waterways. The commentary emphasized the potential political ramifications of the sale, warning against increased U.S. influence in global port acquisitions. CK Hutchison, founded by billionaire Li Ka-shing, has maintained that its business operations are independent from China. The sharp drop in the company's stock reflects investor concerns about the deal's implications amid the complex geopolitical environment.