Huishan trading halt extended
HONG KONG: Hong Kong’s securities regulator ordered a trading halt in shares of China Huishan Dairy Holding Co Ltd, indefinitely extending a suspension that’s been in effect for more than a month as concerns grow about the company’s finances.
The unusual move by the Securities and Futures Commission follows a warning by China’s could employ to get cash in Macau, he said.
The Bloomberg Intelligence index of Macau gaming shares largest integrated dairy firm last month that it was unable to operate because most of its board had quit.
Trade in Huishan’s stock has been suspended since March 24 at the company’s request, when it plunged 85 per cent.
The company has also missed loan payments and lost contact with a key executive in charge of its finances and cash. Reuters dropped as much as 0.8 per cent yesterday, while the Hang Seng Index gained as much as 0.6 per cent. Bloomberg
Holders of China UnionPay Co cards issued by banks in China must now show mainland identification cards and be verified through a facial recognition system before making withdrawals at automated teller machines in Macau.