SHANGHAI :
Hikvision Shares Fall Despite Assurance US Ban to Have No Additional Impact
Liao Shumin
DATE:  Aug 10 2019
/ SOURCE:  yicai
Hikvision Shares Fall Despite Assurance US Ban to Have No Additional Impact Hikvision Shares Fall Despite Assurance US Ban to Have No Additional Impact

(Yicai Global) Aug 9 -- Shares of Hikvision Digital Technology fell even after the surveillance gear maker said a US interim ban on it and four other Chinese firms would not impose extra restrictions on the company's business, according to a report by broadcaster CCTV News.

Hikvision's stock price [SHE:002415] fell 2.8 percent today to end the week at CNY28.09 (USD3.98), recovering from a decline of as much as 4.6 percent earlier in the day. The benchmark Shenzhen Component Index fell 1.4 percent.

Two days ago the US government issued a temporary ban on federal purchases of telecoms equipment from Hikvision, Dahua Technology, Huawei Technologies, Hytera Communications and ZTE, effective Aug. 13.

Hikvision "has no direct dealings with US government agencies cited in the sanctions bill, so the content of the bill will have no material impact on the company's business," the Hangzhou-based firm said in a statement today.

Shares in the other four companies also lost ground. ZTE [SHE:000063] slumped 7.7 percent to CNY27.90, recovering from a 10 percent drop, the most allowed in a single day. Dahua [SHE:002236] ended 4.2 percent lower at CNY14.18, while Hytera [SHE:002583] fell 2.2 percent to CNY9.05.

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Keywords:   Hangzhou Hikvision Digital Technology Co.