Huarong International Unit Slumps After 5-Month Share Suspension
China Huarong Tower in Hong Kong.
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Huarong International Financial Holdings Ltd., an offshore investment unit of the embattled China Huarong Asset Management Co., slumped as much as 31% after resuming trading in Hong Kong following five months of suspension.
The stock fell 29% to HK$0.160 as of 9:53 a.m. In a filing on late Tuesday, the company said its management believes it can ensure continued operation over the next 12 months.