Chinese property developer Fullshare halted after short report

Shares in Chinese property developer Fullshare Holdings were halted from trading in Hong Kong after the company came under attack from a short seller and shed more than a tenth of their value.

Fullshare tumbled 11.9 per cent before it requested a trading halt from the Hong Kong Stock Exchange pending the release of a statement in relation to a recent research report.

That report, which dropped today from Glaucus Research, questioned the commercial and residential property developer’s share price trading patterns, its valuation and asset disposals.

After its share price tumble today, Fullshare had a market cap of HK$49.7bn ($6.4bn).

Last month, Glaucus took aim at Quintis, saying it expected the Australia-listed sandalwood producer would follow two other domestic plantation companies into administration and that its shares were worthless.