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Markets

Shares of Chinese developers frozen after results deadline missed

HKEX suspends trading in 32 companies failing to release even unaudited earnings

Kaisa Group Holdings was among the Chinese developers which failed to release financial results by the March 31 deadline.    © Reuters

HONG KONG -- The Hong Kong Stock Exchange suspended trading in the shares of 32 companies on Friday after they missed the bourse's deadline the previous day to submit their annual financial results.

Many of those caught in the exchange's net were Chinese property developers, particularly those which have been declared in default on their debts or which appear likely to default soon. This group included Kaisa Group Holdings, China Aoyuan Group, Sunshine 100 China Holdings, Fantasia Holdings Group and Modern Land China.

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