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Shares of Chinese payment systems company plunge after FBI raid

PAX Global Technology stock suspended in Hong Kong after 43% fall

PAX trails only Verifone and Ingenico in global sales of payment terminals. (Screenshot from PAX Global Technology website)

HONG KONG -- Shares of PAX Global Technology plunged 43.3% in Hong Kong on Wednesday before going into a trading halt amid media reports of a law enforcement raid on a Florida warehouse belonging to the Chinese payment terminal maker.

In a statement to local media, the U.S. Federal Bureau of Investigation said that it was "executing a court-authorized search... in furtherance of a federal investigation."

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