Hong Kong’s richest man is losing friends in China and the West

Hong Kong’s richest man is losing friends in China and the West
The odds of success are getting smaller by the day, if the stock market is any guide. CK Hutchison Holdings, the largest piece of Li’s empire, now trades at less than half the value of its net assets, the most depressed level since 2015. The stock has tumbled 30% over the past year, versus a 7% decline for Hong Kong’s Hang Seng Index.