Rusal Shares Shed $6.7 Billion in Hong Kong on Ukraine Invasion
- Company’s Hong Kong listing down 47% since Ukraine invasion
- Global investors are shunning Russian assets amid sanctions
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The only Russian stock traded on Hong Kong’s exchange has lost about $6.7 billion in market value since the invasion of Ukraine, as global investors shun Russian assets in the face of stringent sanctions.
Shares of Hong Kong-listed United Co. Rusal International PJSC, Russia’s biggest aluminum producer, have tumbled 47% since President Vladimir Putin launched a military operation in Ukraine on Feb. 24. Equities trading on the Moscow Exchange has been halted since Feb. 25.