Stock Groups

Shimao Group shares slump, trading of flagship unit’s bonds paused -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO : In Shanghai, China on January 1, 2013, a man walks by a wall bearing the logo Shimao Group. The background shows residential buildings as well as the Financial District of Pudong. REUTERS/Stringer

SHANGHAI, (Reuters) – Shares in Shimao Group Holdings fell Friday along with the prices of its flagship unit’s bonds. This caused the Shanghai Stock Exchange and Shanghai Stock Exchange to stop trading three bonds.

In Hong Kong’s early trade, Shimao Group shares dropped more than 17% Shanghai Shimao Co issued a July 2022 Shanghai-exchange-traded bond. It fell 25%. This triggered a trading stop due to “abnormal fluctuations” by the Shanghai Stock Exchange.

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