(Bloomberg) — A third Hong Kong stock in less than a week lost most of its value in a sudden one-day plunge, underscoring concern that the $5.2 trillion market has become a breeding ground for wild volatility.China First Capital Group, an investment company that focuses on financial and education services, plunged as much as 78% on Wednesday before trading was suspended. Virscend Education Co., which is partly owned by First Capital, also lost as much as 78% before paring its decline to 32%.Virscend suspects its shares were sold by First Capital because of a margin call, but has not verified …read more
Source:: Yahoo Finance
