Hong Kong hit by dozens of trading halts

Market negative: An electronic ticker board displays various stock prices as mask-clad people gather by a fountain at Exchange Square in Hong Kong. Trading halts may dampen investor sentiment toward Hong Kong’s stock market. ─ AFP

HONG KONG: Trading in more than 50 Hong Kong-listed companies was suspended yesterday, after a number of firms failed to report earnings ahead of the March 31 deadline.

The mass suspensions come as Wednesday was the last day to report annual results for Hong Kong-listed companies. GCL-Poly Energy Holdings Ltd and China Huarong Asset Management Co were among the firms that announced a trading halt. At least nine Hong Kong companies suspended trading on April 1 of last year, versus about 25 on the same day in 2019.