Hanergy share prices plummet by 47%, suspended from trading

Solar firm Hanergy Thin Film Power Group (0566.HKG) announced its shares had been suspended from trading on Wednesday after the company’s stock fell 47%, with 170 million shares traded just within the first hour of the morning session, Reuters reported. Hanergy had previously seen its value soar six-fold in the past year to US$37 billion, more than its 24 closest rivals put together–though analysts and market watchers had increasingly questioned the validity of the valuation. The company is under investigation by Hong Kong’s Securities and Futures Commission for alleged market manipulation, according to another report.