PANAMA CITY -- Panama’s Supreme Court ruled late Thursday that the concession held by a subsidiary of Hong Kong’s CK Hutchison Holdings to operate ports at either end of the Panama Canal was unconstit...

Panama’s Supreme Court annulled on Thursday the concession allowing Hong Kong-based CK Hutchison to operate ports at the Panama Canal, a ruling that undermines Chinese sway over the waterway.

Following a ruling by Panama’s supreme court, Li Ka-shing’s CK Hutchison empire has been told its contract to run the Balboa and Cristóbal ports is “unconstitutional” and void.