BYD Falls After Forecasting 95% Profit Plunge: Hong Kong Mover
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BYD Co., the Chinese carmaker partly owned by Warren Buffett’s Berkshire Hathaway Inc., fell to a two-month low in Hong Kong trading after the company forecast first-quarter profit may slump as much as 95 percent.
BYD fell by as much as 11 percent, the biggest intraday decline since Sept. 26, before closing 4.8 percent lower at HK$19.94 yuan in Hong Kong. The company’s Shenzhen-traded shares gained 1.8 percent, reversing a 3.9 percent decline.