PetroChina slides after profit alert

PetroChina Co, the country's biggest oil and gas producer, fell in Hong Kong after saying 2015 profit may have fallen 60 percent to 70 percent from a year earlier because of the slump in energy prices.

The stock closed down 3 percent at HK$4.61 in Hong Kong, after earlier falling as much as 4.2 percent. The city's benchmark Hang Seng Index lost 0.45 percent.

PetroChina cited crude's fall and lower domestic natural gas prices for the estimated drop in full-year earnings, estimates for which were compiled according to Chinese accounting standards, it said on Friday in a statement to the Hong Kong Stock Exchange.