China's Yangtze Optical Fibre's shares slide after hitting upside limit

Yangtze Optical Fibre and Cable Joint Stock Co

31/07/2018 07:12

** Shares in newly-listed Yangtze Optical Fibre and Cable
 601869.SS  dive to near its downside trading limit on Tuesday,
reversing a maximum 10 pct gain in early morning trade 
    ** Stock set to snap a seven-session winning streak in
extremely volatile conditions 
    ** Stock down more than 8 pct in Hong Kong  6869.HK , poised
for worst day in nearly four months 
    ** The optical fibre and cable maker, which listed in
Shanghai earlier this month, issued 75.8 million A-shares at an
issue price of 26.71 yuan per share  urn:newsml:reuters.com:*:nFWN1U4007 
    ** Investors have been shunning newly-listed firms trading
at high prices amid a broad correction in the market 
    ** An index tracking newly-listed firm in Shenzhen  .SZSESN 
is down about 0.3 pct, set for 5th day of losses 

 ((Reuters Messaging:
luoyan.liu.thomsonreuters.com@reuters.net))