CK Hutchison slips on report PSA exploring sale of HK firm's ports business

Shares of Hong Kong-based conglomerate CK Hutchison 0001.HK slip 1% to HK$43.05, on course to snap eight consecutive sessions of gain

Stock set for the biggest one-daydecline since April 9

Singapore's PSA International is exploring the sale of its 20% stake in CK Hutchison's ports business, two people with knowledge of the matter said, joining the Hong Kong conglomerate in its controversial plans to sell

CK Hutchison announced last month it would sell its 80% holding in the business, which includes two ports along the strategically important Panama Canal to a BlackRock-led BLK.N consortium. The holding has an equity value of $14.2 billion

Hang Seng Composite Index tracking conglomerates .HSCIC eases 0.4%, Hang Seng Index .HSI slips 0.3%

CK Hutchison stock up 4.3% YTD