Hong Kong Hit by Dozens of Trading Halts After Earnings Deadline
- Trading in more than 50 companies suspended on Thursday
- Benchmark stock gauge climbs amid broad gains in Asia equities
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Trading in more than 50 Hong Kong-listed companies was suspended on Thursday, after a number of firms failed to report earnings ahead of the March 31 deadline.
GCL-Poly Energy Holdings Ltd. and China Huarong Asset Management Co. were among the firms that announced a trading halt. GCL-Poly said additional time is required to complete its audit procedures while Huarong said it will delay delivering its earnings because its auditor will need more time to finalize a transaction. While it’s not uncommon for some companies in Hong Kong to have to suspend trading on April 1, the number this year compares with at least 9 last year and 25 in 2019.