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Vanke shares hit lower limit in mainland, gain in HK


07-04-2016 16:18 BJT

China Vanke resumed trading on Monday in the Chinese mainland market and dropped sharply to its lower limit for the full trading day.

Vanke closed at 21.99 yuan per share, down 9.99 percent from its previous market value before its trading was suspended for more than six months.

Meanwhile, Vanke's Hong Kong shares jumped nearly 7 percent. Vanke had suspended its trading in the mainland market in December and analysts said it was inevitable for share prices to drop once trading resumed.

But they said Vanke's share price could return to normal if Vanke achieves its restructuring plan with Shenzhen Metro.

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