• Sun
  • Dec 21, 2014
  • Updated: 1:26pm

HONGKONG and Shanghai Hotel

PUBLISHED : Sunday, 22 February, 1998, 12:00am
UPDATED : Sunday, 22 February, 1998, 12:00am

HONGKONG and Shanghai Hotels owns The Peninsula in Kowloon and has a range of other regional hotel and property interests.


This time last year, Tai Fook Securities put a buy on the stock saying the company's strong fundamentals would help the share price continue to rise.


This proved poor advice as the economic downturn caused a slump in regional tourism which hammered the hotel sector.


This time last year, Hongkong and Shanghai Hotels' shares traded at $13.95. Now they are worth just $6.15, lagging the Hang Seng Index by 45.2 per cent.


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