Chairman of Hong Kong brokerage Guotai Junan International goes missing


Guotai Junan International Hold. Limited (HKG:1788), a Hong Kong Forex, futures and equities broker, has been unable to contact its chairman Dr. Yim Fung for almost a week already, according to numerous media reports.

In an announcement with the stock exchange, the broker has confirmed that contact has been lost with Dr. Yim since November 18, 2015.

The circumstances of the disappearance are unclear. Yim Fung has gone missing as the Chinese authorities have started a wide-scale anti-graft campaign following the events that rattled the stock markets in the summer.

According to Chinese media reports from earlier this month, Yao Gang, vice chairman of the China Securities Regulatory Commission (CSRC), is being investigated for “severe disciplinary violations”. Bloomberg News points out that he was the general manager of Guotai Junan Securities from 1999 to 2002.

Shares in the Hong Kong broker plunged on Monday, as media started reporting about Yim Fung’s disappearance. The share price recovered somewhat today, up 2.11% on the day at market close.

guotai_shareprice_inside

Chart source: Google Finance.

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Chairman of Hong Kong brokerage Guotai Junan International goes missing

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