Trade halted after Hanergy plunges nearly 50%

Hong Kong

CHINA'S Hanergy Thin Film Power Group said trade in its shares was suspended after its stock fell nearly 50 per cent in less than one hour on Wednesday - a sudden and brutal decline after a long run-up in market value that had left analysts puzzled.

The company, controlled by founder Li Hejun, said in a statement that trade had been suspended, "pending release of an announcement containing inside information". Hanergy officials were not available to comment despite repeated calls to their Beijing offices.