Two Hong Kong IPO debutants sink 15% as mood remains negative

(Corrects to Wednesday, now not Tuesday, in first two paragraphs)

By Scott Murdoch and Donny Kwok

SYDNEY :Two Chinese language companies sunk by 15 per cent of their Hong Kong preliminary public choices (IPO) debuts on Wednesday, whereas a miniature Chinese language petroleum refiner soared practically about 30 per cent as sentiment in the direction of new part gross sales in town stays unstable.

Chenqi Technology opened down 14.3 per cent and Shanghai Voicecomm sunk 15.4 per cent in early replace on Wednesday.

Ruichang Worldwide, which raised factual HK$131.1 million ($16.78 million), discovered crimson meat up, even supposing, with its shares trading as excessive as HK$1.35 each when compared to HK$1.05 in the IPO.

The Hang Seng Index used to be up 1.3 per cent and tech index rose 2.1 per cent on Tuesday.

Chenqi raised HK$1.01 billion ($129 million) and Shanghai Voicecomm raised HK$664.02 million ($85.0 million), in preserving with their respective regulatory filings.

($1 = 7.8116 Hong Kong bucks)