CK Hutchison Holdings Ltd.’s shares dropped by the most in nearly two weeks following news its Hong Kong billionaire owner Li Ka-shing is considering delaying the signing of a controversial deal to sell his Panama Canal ports to a consortium including BlackRock Inc.

Bloomberg revealed that authorities of the People's Republic of China instructed state-owned enterprises to halt new transactions with companies associated with Hong Kong billionaire Li Shing. This move stems from dissatisfaction with Li's plans to sell ports in Panama to an American consortium.

NEW YORK] China has told state-owned firms to hold off on any new collaboration with businesses linked to Li Ka-shing and his family, according to people familiar with the matter, after the Hong Kong billionaire irked Beijing with his plan to sell two Panama ports to a global consortium.