The Business Times
SUBSCRIBERS

Lenovo shares slump 16% after downgrade by brokers

Published Tue, Feb 4, 2014 · 10:00 PM
Share this article.

[HONG KONG] Lenovo Group, which announced US$5 billion of deals last month to bolster its server and smartphone businesses, plunged the most in five years in Hong Kong after the stock was downgraded by at least five brokerages.

Lenovo fell 16 per cent to HK$8.41 at the close of trade yesterday, cutting US$2.2 billion from its market value in the biggest decline since January 2009.

The world's biggest maker of personal computers was cut at UBS AG, Morgan Stanley, Jefferies Group, JI-Asia Research and Kim Eng Securities, according to data compiled by Bloomberg.

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

New Articles

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here