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Jun 25, 2012, 01.12 PM IST
LENOVO-SHARES:Lenovo shares hit over 4-mth low on concern over PC outlook
HONG KONG (Reuters) - Shares of Lenovo Group Ltd <0992.HK>, the world's No.2 PC maker, fell by more than 6 percent to a more than four-month intraday low on market concern over the outlook for the PC market amid the global economic slowdown.
Lenovo's shares fell as much as 6.3 percent to HK$6.26 in afternoon trade, extending earlier losses and hitting the lowest intraday level since February 9.
"The huge increase in volume suggests that a major holder is now exiting the stock," said a trader who declined to be identified because he was not authorised to speak to the media.
An analyst said Lenovo's stock had outperformed peers such as market leader Hewlett-Packard Co
Lenovo shares are still up 22 percent so far this year, outperforming the main Hang Seng Index's <.HSI> 2.9 percent gain, Dell's 16.7 percent fall and HP's 20.1 percent loss.
(Reporting by Vikram Subhedar and Lee Chyen Yee; Editing by Chris Lewis)
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