Some Hong Kong stocks sink 70% as wave of selling hits

  • Markets
  • Thursday, 17 Jan 2019

HONG KONG: A string of Hong Kong-listed stocks plunged without warning in afternoon trading, in the latest shock losses to sideswipe investors in the world’s fourth-largest equity market.

Jiayuan International Group Ltd., Sunshine 100 China Holdings Ltd. and Rentian Technology Holdings Ltd. fell more than 75 percent in a matter of minutes and at least 10 companies were 20 percent lower by the close, wiping out HK$37.4 billion ($4.8 billion) in market value. Most of that came from Jiayuan, which lost HK$26.3 billion on record volume.