Stock market quotes, forex, financial news, forex tools – money-investing.com

How one can lose six billion dollars overnight by Polyanna Chu’s example

 Breaking News
  • US Ministry of Energy predicts reduction of oil prices The US Ministry of Energy has published a monthly report, which turned out to be discouraging. It is expected that in the last quarter of this year the price for...
  • 28 Chinese companies are blacklisted by the US Everyone knows that just in few days two powerful states China and the USA – are starting the next round of the negotiations. Official Beijing has announced that it is...
  • Startup WeWork again in spotlight We have been writing about the startup WeWork, which was forced to postpone the initial public offering. They earn by renting commercial space for a long time in order to...
  • Massive cuts in HSBC HSBC Holdings Plc, the largest bank in Europe and one of the most significant and serious players in the global financial market, has announced the launch of a cost-optimization program....
  • Oil quotes still wait for negotiations Today, at 8.15 a.m. Moscow time, futures for Brent crude oil were trading in London for $ 58.31 per barrel. This is only 0.1% below the closing price of the...

How one can lose six billion dollars overnight by Polyanna Chu’s example

How one can lose six billion dollars overnight by Polyanna Chu’s example
March 16
09:00 2018

Polyanna Chu, known to the financial world as the richest resident of Hong Kong, the owner of the company Kingston Financial Group Ltd, has lost half of her multi-billion dollar fortune because of the regulator’s statement. This is an excellent illustration of the fact that the market is sensitive to various kinds of public statements.

In January this year, the fortune of Mrs. Chu was estimated at $ 12 billion; at the moment her assets are equal in value to $ 6 billion. The collapse of Kingston Financial stock price was due to the public statements made by Hong Kong’s regulator. The regulator warned investors that the company’s shares had been distributed among a small number of shareholders. In fact, this statement caused more than 50 per cent drop in quotations.

The Securities and Futures Commission of Hong Kong has released the information that only two dozen holders control about 90% of Kingston Financial shares.

Immediately after the publication of this information, the company’s shares fell in price by 17%. A few days later, the index provider FTSE Russell announced the exclusion of Kingston Financial shares from its indices that led to the second wave of the decline (for a total of 8.7%).

Casinos and hotels in Macau is still the main business of the company. The company also has other assets.

At the moment, the dynamics of Kingston Financial shares is the worst among the companies of the MSCI Asia Pacific index.

Pollyana Chu has lost the title of the richest resident of Hong Kong, giving her place to Pansi Ho – the daughter of the king of the gambling business in Macau. The second place belongs to Vivien Chen, Chairman, Board of Directors of Nan Fung Group.

 

The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

1 Comment

  1. gameba
    gameba August 18, 17:04

    Hi there! I could have sworn I’ve been to this site before but after browsing through some of the post I realized it’s new to me. Nonetheless, I’m definitely glad I found it and I’ll be book-marking and checking back often!

    Reply to this comment

Write a Comment