Hong Kong’s best-performing stocks this year are tumbling even faster than they rallied.
Goldin Financial Holdings and Goldin Properties
Holdings, controlled by billionaire Pan Sutong, plunged more than 60
per cent in Hong Kong trading Thursday, wiping about $23 billion off the
value of the companies. There was no immediate explanation for the
drop.
Before the rout, the two stocks surged more than 300 per cent in 2015 for the biggest gains on the Hang Seng Composite Index.
The tumble follows the mysterious 47 per cent plunge in 24 minutes by Hanergy Thin Film Power Group on Wednesday, which erased $19 billion in market value before trading was suspended.
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