Shares dip over missing Fosun’s chief
Print Edition
SHANGHAI stocks dipped yesterday after Hong Kong-listed Fosun International suspended trading pending “release of an announcement containing inside information,” following Caixin’s report that the Fosun Group has “lost contact” with its billionaire chairman Guo Guangchang.
The Shanghai Composite Index edged down 0.61 percent to close at 3,434.58 points.
Some domestically-listed companies related to Fosun International, including Shanghai Fosun Pharmaceutical (Group) Co, Nanjing Iron & Steel Co, Shanghai Yuyuan Tourist Mart Co and Hainan Mining Co, also halted trading yesterday as they said they would verify “relevant issues.”
Some Fosun-invested companies fell, with Shanghai Bailian Group Co off 2.29 percent to 17.09 yuan. CNFC Overseas Fishery Co slid 3.77 percent to 11.50 yuan.
Brokerages gained on prospects the resumption of initial public offerings would lift their income.
Everbright Securities jumped 2.38 percent to 23.21 yuan and China Merchants Securities gained 1.91 percent to 21.36 yuan.
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