Shares of HutchMed and four others named by US SEC’s audit list tumble in Hong Kong, Shanghai in knee jerk reaction to regulatory risks

Source: China – South China Morning PostHutchMed, the pharmaceutical unit of tycoon Li Ka-shing’s flagship CK Hutchison Holdings, led declines among four Hong Kong-listed stocks after being named in a list of foreign companies liable to US accounting inspection law.HutchMed’s shares plunged by as much as 16 per cent to at least a 12-month low of HK$24.25, tracing the 15 per cent decline overnight in New York. Yum China Holdings, which operates the KFC and Pizza Hut fast food chains in China, declined by as much as 11 per cent in Hong…Read More

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