A Hong Kong stock just plunged 76% in 30 minutes
Another Hong Kong stock just plunged, shedding 76% of its value in 30 minutes of trading.
China First Capital Group, an investment group that focuses on educational services across China and Singapore, plummeted a total of 78% on Wednesday before trading was suspended at 11:15 a.m. local time, not even making it to the lunch break. of trading, wiping more than $5.8 billion from its market capitalization before trading was suspended., the stock swings in Hong Kong are shining a light on corporate governance practices within the city.
Bloomberg said this can "lead to a domino effect when companies are connected by investors or business lines, and it's not always clear under Hong Kong's disclosure rules when a stake has been pledged." CFCG is smaller than ArtGo, with a market cap of $2.26 billion HKD versus ArtGo's market cap of $5.8 billion prior to its fall. ArtGo had been the best performing stock in the world this year with a 3,800% gain, making its 98% fall even more dramatic.
On Tuesday, it looked like the Hong Kong Stock Exchange's fortunes started to turn around after a poor few months. Protests within the city delayed Alibaba's IPO earlier this year, and the exchange's
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Alibaba stock pops 7% in Hong Kong debutCNN News, delivered. Select from our newsletters below and enter your email to subscribe.
Leer más »
Hong Kong university siege winds down as hunt for protesters comes up emptyAs the final searches for any pro-democracy protesters still hiding in Hong Kong...
Leer más »
Hong Kong Protesters Get A Win, Setting Stage For Foggy China RelationsEither Hong Kong becomes like China in 2047, or China becomes more like Hong Kong. Hong Kongers have already chosen a side.
Leer más »
Hong Kong tunnel reopens, campus siege nears endProtests against the government switched from violent to peaceful as the city prepared for local elections. Protesters are now weighing their next move as city leader Carrie Lam refuses to compromise.
Leer más »
Exclusive: China sets up Hong Kong crisis center in mainland, considers replacing chief liaisonEXCLUSIVE: A villa located just across Hong Kong’s border with the mainland is serving as a crisis command center for top Chinese officials managing Beijing’s response to protests in the restive city by QiZHAI jamespomfret DavidKirton_
Leer más »