Calls for more oversight in HK after routs
The volatility illustrates the need for regulators to keep pace with the boom in China's stock markets
Hong Kong
AFTER US$35 billion in market value was erased from three Hong Kong-listed companies over two days, investors are asking if the city's regulator should have done more to prevent the sudden sell-off.
Goldin Financial Holdings Ltd and Goldin Properties Holdings Ltd, controlled by billionaire Pan Sutong, plunged more than 40 per cent on Thursday. A day earlier, Hanergy Thin Film Power Group Ltd tumbled 47 per cent in 24 minutes before trading in the Chinese solar company's shares was suspended. The stocks, which had surged at least 500 per cent in the 12 months before the rout, can also be bought and sold by mainland investors through an exchange link.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Singapore stocks end lower after US market wobbles ahead of CPI data; STI down 0.2%
LSEG reports in-line first quarter as Microsoft partnership progresses
Japan brokerage Daiwa’s Q4 profit more than doubles as markets recover
South Korea readies new system to detect illegal short-selling
Asia: Markets mixed as global rally stalls, eyes on yen
Singapore shares retreat at Thursday’s open; STI down 1.1%