Hong Kong Trading Halts Freeze $15 Billion After Earnings Delays
- Chinese developers Sunac and Shimao are among the suspensions
- Extended trading halts risk index removals, credit downgrades
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Trading in 33 Hong Kong-listed stocks was halted on Friday after a number of firms missed a deadline to report annual results in a move that’s expected to affect some $15 billion worth of shares.
Troubled Chinese developers including Sunac China Holdings Ltd. and Shimao Group Holdings Ltd. were among the stocks suspended. China Aoyuan Group Ltd. said publishing unaudited results at this stage could “potentially be misleading to the shareholders and potential investors.” This year’s number compares with 57 for 2021 and at least nine for 2020.