Hutchison down over dividend fears

Hutchison Telecommunications International, controlled by billionaire Li Ka-shing, fell on its share-trading debut yesterday on concern it will not pay a dividend because expansion costs will reduce profits.

Shares of the company, which operates phone businesses in Hong Kong, India and six other markets, closed down 3.6% to HK$5.85 in Hong Kong, compared with the initial public offer price of HK$6.07, which includes brokerage fees.