HONG KONG: A string of Hong Kong stocks suddenly plunged with no explanation, leaving traders to speculate that a forced seller was behind the moves.
More than US$1.4bil was wiped from the value of five small-cap stocks, with Sino Haijing Holdings Ltd at one point dropping 93%. Traders pointed to speculation that a large holder might have been forced to liquidate shares after a loan went sour.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!