SCMP declines 12.2% to 52-wk low

South China Morning Post (Holdings) Ltd. (0583) plunged over 12 percent this morning after it said full year earnings declined 27 percent year on year and cut its dividend payment by half. At 11:20 a.m. Hong Kong time, SCMP shares dropped 11% to HK$4.00. It had fallen to as low as HK$3.95 at one point, a 52-week low. Turnover was HK$11.91 million.

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