Caixin
Apr 01, 2022 01:19 PM
FINANCE

Stocks of at Least 33 Hong Kong Firms Halted After Earnings Deadline

The barrage of trading halts comes at a bad time for Hong Kong’s equity market. Photo: Bloomberg
The barrage of trading halts comes at a bad time for Hong Kong’s equity market. Photo: Bloomberg

(Bloomberg) — Trading in at least 33 Hong Kong-listed stocks was halted on Friday after a number of firms missed a deadline to report annual results, adding uncertainty to a market grappling with a bleak economic outlook and regulatory headwinds.

Embattled Chinese developers, including Sunac China Holdings Ltd. and Shimao Group Holdings Ltd., were among the stocks to be suspended from Friday. 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 more than 50 for 2021 and at least nine for 2020.

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