This is becoming awkward. The $19bn decline in the value of Hanergy shares on Wednesday was striking — but neither shocking nor, on its face, an indication of a wider problem in the Hong Kong market. The shares’ bizarre valuation and, ah, unique trading patterns had long been scrutinised. Good clean fun, then (except for the saps holding solar energy ETFs that own Hanergy — the Guggenheim Solar ETF was off 8 per cent on Wednesday).
这件事正变得有些难办。周三,汉能薄膜(HTF)市值蒸发190亿美元,这令人注目,但既不令人震惊,表面上也不表明香港市场存在更大的问题。汉能薄膜的荒唐估值和“独特”交易模式早就引起关注。就此而言,这件事不值得让人担心,倒是有趣得很——除了那些持有包含汉能的太阳能板块交易所交易基金(ETF)的傻瓜们——Guggenheim Solar ETF周三下跌8%。
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