The Hong Kong SFC and HKSE have their "fair share" of blames, when things go wrong...
I didn't hear any noise, when the shares surged 500% months ago...
Hong Kong investors want more oversight after US$35 billion wipeout
HONG KONG (May 22): After US$35 billion in market value was erased from three Hong Kong-listed companies over two days, investors are asking if the city’s regulator should have done more to prevent the sudden selloff.
Goldin Financial Holdings and Goldin Properties Holdings, controlled by billionaire Pan Sutong, plunged more than 40 percent on Thursday.
A day earlier, Hanergy Thin Film Power Group tumbled 47 percent in 24 minutes before trading in the Chinese solar company’s shares was suspended.
The stocks, which had surged at least 500 percent in the 12 months before the rout, can also be bought and sold by mainland investors through an exchange link.
The volatility illustrates the need for regulators to keep pace with the boom in China’s stock markets.
In Hong Kong, the Securities and Futures Commission and the bourse operator share the task of trying to weed out stock manipulation while also encouraging the equity market to play a bigger role in boosting economic expansion.
“Should the stock exchange focus on business or regulation?” Paul Chan, the Hong Kong-based chief investment officer for Asia ex-Japan at Invesco, said.
“It cannot promote and regulate at the same time. The current management definitely wants more growth. When retail investors are upset, they protest. When foreign investors get burnt they will never come back.”
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http://www.theedgemarkets.com/sg/article...on-wipeout
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