Deals
Chinese Brokers Plunge in Hong Kong With Guolian Falling 31%
This article is for subscribers only.
Chinese brokerage Guolian Securities Co.’s shares tumbled in the worst major Hong Kong trading debut since 2011, even after China rolled out emergency measures to stabilize the nation’s stock market.
Guolian closed 31 percent lower than its offer price at HK$5.51. The Hong Kong-listed shares of Haitong Securities Co. fell 15 percent, the most since Jan. 19, when regulatory efforts to rein in margin lending triggered the biggest plunge in equities on the mainland since 2008.