Stocks crash: People stand in front of a bank’s electronic board showing the Hong Kong share index in Hong Kong on Tuesday. More than US1.4bil was wiped out from the value of five small-cap stocks on the Hong Kong stock market yesterday, with Sino Haijing Holdings Ltd at one point dropping 93. — AP
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.
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