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The mass suspensions come as March 31 was the last day to report annual results for Hong Kong-listed companies. China Huarong Asset Management Co. was among the more than 50 firms that announced a trading halt. At least 9 Hong Kong companies suspended trading on April 1 of last year, versus about 25 on the same day in 2019.
Huarong Dollar Bond Spreads Jump to Widest in Six Months
Yuzhou Group Holdings Co., a Chinese real estate firm, said on Tuesday that its auditor Ernst & Young’s “strict” accounting standards were partly behind a collapse in the company’s profit last year. The stock slumped 7.9%.
©2021 Bloomberg L.P.
