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
Yen surges against US dollar on suspected intervention
Singapore stocks start week in the black ahead of Fed meeting; STI up 0.1%
Sembcorp announces long-term power purchase agreements with Equinix
Asia: Shares rise as Fed looms large; yen crumbles below key level
Singapore stocks decline at Monday’s open; STI down 0.3%
Stocks to watch: Singtel, Keppel, Great Eastern, Seatrium, Best World