‘Enigma Network’ Rocks Hong Kong Markets With Sudden 90% Losses
- Activist investor Webb flagged concerns before Tuesday’s rout
- Network of cross-shareholdings helped spur cascading losses
Hong Kong Small Cap Plunge Wipes Out $6.1B
This article is for subscribers only.
It sounds straight out of Le Carre: “The Enigma Network.”
But suddenly that phrase is sending shock waves across Hong Kong equities, in an unexpected culmination of one man’s campaign to train a spotlight on the market’s darkest corners.