ImagineChinaThe chairman of China’s leading dairy company, Yang Kai, may need an extra glass of milk for his sleep tonight. His fortune dropped by $2.5 billion as Huishan Dairy stock plunged by 85% in Hong Kong before trading was suspended Friday. The crash wiped a Hong Kong exchange record of $4.1 billion off Huishan’s market capitalization, as 779 million shares changed hands in just four hours. In 2015, the Hong Kong Stock Exchange experienced another sudden share crash. Hanergy Thin Film Power Group’s shares dropped by 47%, increasing concerns over volatility in Hong Kong trading and decimating the implied wealth of Li Hejun, once one of China’s richest men.

Source: Forbes March 24, 2017 21:00 UTC