(MENAFN- Asia Times) The shares of Chinese image sharing app Meitu have seen wild swings since being added to a stock trading link between Hong Kong and mainland exchanges. On Monday, shares surged 28% before tumbling 33% in the last 90 minutes of trading, reports Bloomberg. The moves, led by heavy trading from mainland investors, are prompting increased scrutiny of the stock connect. Andrew Clarke, Hong Kong-based director of trading at Mirabaud, said that as a trader he wouldn't go near certain elements of the market that have become like mainland exchanges. He added that more events like the Meitu trading on Monday will increase scrutiny from the Securities & Futures Commission and the Hong Kong exchange.
The DailyBrief Must-reads from across Asia - directly to your inbox Share Tweet Linkedin Email Asia Unhedged Meitu Chinese stocks Hong Kong stocks
MENAFN2103201701590000ID1095334329
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.