Chinese Property Developer Sinic Halts Trading After Sinking 87%
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Sinic Holdings Group Co. has halted trading after an 87% slump in its shares Monday afternoon.
The Shanghai-based developer didn’t give any reason for the trading halt in Hong Kong. The sudden selloff in the last two hours leading up to the suspension was accompanied by a surge in trading volume that was about 14 times its average in the past year, according to Bloomberg-compiled data.