Chinese developer Sinic tumbled 87% in a single day amid broad concerns over property sector

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Chinese property developer Sinic Holdings Group's shares tumbled 87 per cent in Hong Kong before its halted trading on Monday and the company did give any reason for the trading halt.

The sudden selloff in the last two hours leading up to the trading suspension was accompanied by a surge in trading volume that was about 14 times its average in the past year.

The share plunge has slashed its market value to just under $230 million, which is tiny for a listed developer in the city.

The company's dollar bonds . . .

 

 

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