Tiger Brokers

BUZZ-China's KWG plunges 24% to 11-month low on winding-up petition

Reuters
Aug 14
BUZZ-China's KWG plunges 24% to 11-month low on winding-up petition

** Property developer and investment firm KWG Group Holdings Ltd's shares 1813.HK drop about 24% to HK$0.25, their lowest level since Sept 25, 2024

** Stock set for biggest one-day pct drop since Oct 8, 2024

** Shandong Sunlight Xin Tiandi Micro-finance Co Ltd files winding-up petition against the company at Hong Kong High Court over 642 mln yuan ($89.53 mln) and an interest of 136.24 mln yuan - KWG

** First hearing set for Oct 22

** Hang Seng Composite Index tracking properties and construction stocks .HSCIPC adds 0.8%, the benchmark Hang Seng Index .HSI gains 0.2%

** YTD, stock down 36.3% vs 28% rise in broader market .HSI

($1 = 7.1710 Chinese yuan renminbi)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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