Over 40 of Hong Kong’s listed shares remain suspended after missing their second deadline to release their 2020 earnings, further fuelling investor worries about market risk.
51 listed companies were originally suspended for trading after missing the first deadline for their earnings release at the end of March.
10 of the stocks have resumed trading after meeting the second deadline at the end of April.
More than 40 stocks remain suspended with a combined market value of over HK$140 billion ($18 billion).
Auditor Delays
Many of the firms previously said that delays were due to failure by auditors to sign off on results.
Most notable amongst those suspended is state-owned distressed asset management giant Huarong which has been spotlighted due to concerns about liquidity and limited indications of state support for an entity of its size.
Huarong finally spoke out recently to refute such claims as well as counter credit rating downgrades by international agencies like Fitch and Moody’s.
