HK-listed Globla Bio-chem hits 3-weeks low as chairman under probe

Global Bio-chem Technology Co

20/10/2020 03:53

** Shares of biochemical products maker Global Bio-chem
Technology Group Co Ltd  0809.HK  fall as much as 14.4% to
HK$0.161, their lowest since Sept. 30
    ** Stock, last down 11.2%, is heading for its worst day
since Aug. 28; ranks as the second biggest percentage decliner
among all listed companies on the Hong Kong bourse 
    ** Company says it has been informed by an official of the
government of China's Jilin Province that its chairman Yuan
Weisen is under "disciplinary inspection" and "supervisory
investigation" for suspected serious disciplinary violations
 urn:newsml:reuters.com:*:nFWN2HA152 
    ** Says the firm's business operation has not been disrupted
by the investigation and has remained normal
    ** The Hang Seng China enterprises index  .HSCE  gains 0.1%,
while the benchmark index  .HSI  dips 0.1%

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