Hong Kong Builder Plunges After Report From Anonymous Research GroupBy
Hong Kong’s stock market may be heading for its best annual performance in four years, but not all shareholders are happy. Hsin Chong Group Holdings Ltd., a builder that listed 25 years ago, sank as much as 57 percent on Thursday after Anonymous Analytics rated it a "strong sell." The company said Anonymous Analytics adopted an “extremely negative” assessment of prospects. At least seven stocks in the city have posted one-day losses exceeding 50 percent this year, following the high-profile collapse of Hanergy Thin Film Power Group Ltd. in 2015 that wiped out $19 billion of value.
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