CK Hutchison Holdings Ltd. saw its shares experience the largest drop in almost two weeks following reports that Hong Kong billionaire Li Ka-shing might delay finalizing a controversial deal to sell the company’s Panama Canal ports to a consortium that includes BlackRock Inc.

On Monday, the stock plummeted by as much as 4.7%, marking the most significant decrease since March 18. This decline has reduced its year-to-date increase to 5.5%, in contrast to the Hang Seng Index's 16% surge.

The decision attributed to Li comes in response to heightened pressure and criticisms from Beijing regarding the transaction. The deal is part of a $19 billion mega-agreement by the conglomerate to sell 43 ports globally. While the US perceives this deal as a strategic move to regain control of the canal from China, Beijing sees it as a threat to its maritime and trade interests.

Although work on the deal is ongoing, the companies involved require additional time to finalize procedural aspects like due diligence, as reported by Bloomberg News last week, citing sources familiar with the situation.

China has instructed state-owned enterprises to hold off on any new partnerships with businesses associated with Li and his family. Additionally, authorities have initiated an examination of the transaction to identify potential security or antitrust issues.