HK-listed Huabao Int'l drops most in 6 months as chairlady under probe

Huabao International Holdings

26/01/2023 07:57

** Shares of e-cigarette flavour maker Huabao International
Holdings Ltd  0336.HK  drop as much as 14.5% to HK$3.83 - on
track for biggest daily pct decline since Jul 22, if losses hold
    ** Stock hit the lowest since Nov. 28; the biggest pct
decliner in the Hang Seng Composite Index  .HSCI  
    ** Huabao says its chairlady Chu Lam Yiu is placed under
residential surveillance at a designated location by Chongqing
Yongchuan District Police Bureau, after Anyuan County Police
Bureau lifted Chu's residential surveillance and that she was on
bail pending further investigation 
    ** Co says company has not been provided with any details of
the nature of the investigations against Chu while the firm's
business operation remains normal
    ** Co had said in January 2022 that Chu was placed under
residential surveillance at a designated location in relation to
investigation for suspected disciplinary violations
    ** Co and its chairlady did not immediately respond to
Reuters' email requests for comment
    ** The Hang Seng Commerce & Industry Index  .HSNC  and the
Hang Seng consumer goods and services index  .HSCGSI  both rise
2.2%
    ** The Hang Seng Composite Index  .HSCI  rises 2.1% and the 
Hang Seng Index  .HSI  climbs 2%
 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))