Hong Kong IT firm Smartac sinks to near 8-month low

Carmen Century Investment

26/06/2019 03:41

** Shares of IT firm Smartac Group China Holdings Ltd
 0395.HK  plunge as much as 57.1% to HK$0.135, their lowest
since Nov. 1, 2018 
    ** Hong Kong's securities regulator ordered nine more
brokers to freeze their client accounts linked to suspected
manipulation of shares in investment firm China Ding Yi Feng
Holdings  0612.HK  between 2018 and early 2019  urn:newsml:reuters.com:*:nL4N23W2IR  
    ** Ding Yi Feng owned 3.5% of Smartac as of 2018-end, its
largest investment, the former's annual results for that year
showed
    ** Smartac's stock soared 775% between Oct. 30 and Dec. 14
last year 
    ** Smartac is the biggest percentage decliner in early trade
    ** As of Tuesday's close, Smartac's shares have fallen 65%
this year 
    ** Smartac has underperformed the Hang Seng Commerce &
Industry Index sector  .HSNC  by 11.6 percentage points in the
past one month
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
eases 0.2%, and the Hang Seng sub-index tracking information
technology firms  .HSCIIT  slides 0.4%
    ** The Hong Kong benchmark index  .HSI  declines 0.3%
    

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)