China Unicom Drops to Eight-Month Low as Manager Probed
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China Unicom (Hong Kong) Ltd. slumped to its lowest level in almost eight months in Hong Kong trading after state-run media reported a company official is being probed for suspected discipline violations.
The stock fell 4 percent to close at HK$10.20, the lowest since April 23. Shares of China’s second-largest wireless carrier have dropped 12 percent this year, compared with a 1.2 percent decline in Hong Kong’s benchmark Hang Seng Index.