TVB slumps 20% on disappointing 1H profit

Television Broadcasts Ltd. (0511), Hong Kong's dominant free-to-air broadcaster, fell as low as HK$21.85 after several brokerage houses downgraded its stock in view of its disappointing first-half results. At 2:55 p.m. local time, its shares were down 20 percent at HK$22.20, a 52-week low. The biggest percentage loser on the main board had turnover of HK$67 million, 1.8 times more than its total yesterday.

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