Dongfeng Motor Shares Slide After Restructuring U-turn
Shares in Dongfeng Motor plunged after the disclosure that the Chinese auto giant isn't currently engaged in any business restructuring, coming just months after it announced plans for one.
The carmaker's stock was 13% lower at 3.68 Hong Kong dollars, equivalent to 47 U.S. cents, by midday in Hong Kong, back near levels of early February, before shares surged on news of a potential restructuring. Dongfeng's Shanghai-listed shares slumped 6.9%.
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