Meitu's Wild Stock Trading Has Investors Blaming Mainland Links
- Developer of selfie app saw wild price swings on Monday
- Other shares added to stock connect have seen similar moves
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Hong Kong’s latest stock-market drama is putting a spotlight on the volatile trading patterns of Chinese investors who use the city’s cross-border exchange links.
The links’ most-active stock on Monday was a beauty-enhancing selfie app developer called Meitu Inc. After the shares surged as much as 28 percent over the course of the day, they tumbled as much as 33 percent in the final 90 minutes of trading. Hong Kong’s Securities and Futures Commission has requested trading records of Meitu shares from brokers at least three times since January, the Hong Kong Economic Journal reported on Tuesday, citing unidentified people.