HPH Trust dives on dismal outlook, ratings downgrades

Singapore

UNITS of Hutchison Port Holdings Trust (HPH Trust) dived on Monday, after sentiment for the counter was hurt by its downbeat outlook when it released its fourth-quarter results and rating downgrades by brokerages.

The counter fell by as much as 6.8 per cent to 41 US cents on Monday. At closing, it was down 5.7 per cent from last Friday's close to 41.5 US cents after 88.29 million shares changed hands.

HPH Trust had on Friday guided in its earnings conference call for fiscal 2017 dividend to be in the range of 20-23 Hong Kong cents, representing a 25-35 per cent decline from the 30.6 Hong K…