BYD's shares slide after steep fall in quarterly profit
HONG KONG (Reuters) -Shares in electric vehicle maker BYD slid on Monday after it reported quarterly profit fell for the first time in more than three years, with analysts saying its competitive advantage was being eroded by Chinese government efforts to stop a price war. Net profit at the world's biggest EV producer tumbled 30% in the second quarter to 6.4 billion yuan ($895 million) from a year earlier, it reported. Its Hong Kong-listed shares closed 5.2% lower, after an 8% drop at the open, which was its biggest one-day percentage decline since May 26.
