Hitachi Construction Shares Fall After $570 Million Block Trade

Hitachi Construction Machinery Co. shares extended their drop on Wednesday after major shareholder Hitachi Ltd. offloaded ¥90.1 billion ($571 million) of stock in a block trade.

The Japanese machinery firm’s shares fell as much as 5.5% to ¥5,143, sliding for a third day in their longest losing streak since March. That’s above Hitachi’s ¥5,121 offering price in the deal, which was near the middle of the marketed range of ¥5,062 to ¥5,171.