Trading in over 30 China property stocks halted
STORY: The Hong Kong stock exchange suspended share trading in more than 30 Chinese developers on Friday (April 1).
It comes after the firms missed the end of March deadline to declare their annual results .
Major developers Kaisa and Shimao were among those affected.
The Exchange said 14 of the suspended firms had audits affected by health crisis restrictions.
Shimao Group was one, after an office building was locked down at the firm's Shanghai HQ.
It said it could not publish unaudited results in time as a result.
It all comes as more Chinese companies stop domestic listing plans due to the health crisis.
They believe it hurts due diligence and information-gathering.
Hong-Kong listed firms usually have three months after the end of the financial year to publish numbers.
The Exchange said it would watch developments to ensure suspensions were as short as possible.
