China’s top office on Hong Kong affairs has reposted an attack on CK Hutchison’s decision to sell its Panama Canal ports, amplifying a Beijing-backed newspaper’s warnings for the Li Ka-shing-owned conglomerate to “think twice” about which side it stands on.

Beijing signaled its displeasure over CK Hutchison Holdings’ agreement to sell its majority controlling stake in Panama ports to a BlackRock-led consortium.

Shares in Hong Kong-based conglomerate CK Hutchison fell 5 per cent on Friday after China criticised the sale of its Panama Canal ports and said it should “think twice” about the $22.8bn deal with US asset manager BlackRock.

CK Hutchison Holdings Ltd. shares plunged Friday after China’s top office on Hong Kong affairs reposted a sharp attack on the conglomerate’s decision to appease President Donald Trump by selling its stake in Panama ports.

Hong Kong tycoon Li Ka-shing’s company CK Hutchison Holdings, which recently sold its Panama Canal ports, should think twice about which side it wants to stand with, according to a scathing newspaper commentary posted by Beijing’s top office for the city’s affairs on its website.