BUZZ-Guotai Junan slips to 3-month low after Hong Kong regulator launches probe

Reuters03-12
BUZZ-Guotai Junan slips to 3-month low after Hong Kong regulator launches probe

** Shares of Guotai Junan International 1788.HK fall 6.5% to HK$2.45, their lowest level since December 12

** Stock on course for a second session of decline, if losses hold

** Stock marks its biggest intraday pct fall since November 4, and is top pct loser in the Hang Seng Composite Index on financial stocks .HSCIF, which is down 1.2%

** The financial services provider said on Thursday Hong Kong's securities regulator has raided its principal place of business, seized certain documents and detained an employee

** Guotai Junan said all its businesses, including investment banking, continue to operate normally, while the firm is in the process of obtaining further information related to the investigation

** YTD, stock down 1.2%, benchmark Hang Seng Index .HSI up 0.4%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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