No I believe it may have to do with preliminary results.
Since the trading halt in CCME r/merger China stocks have dropped.
I believe the reason maybe audit related since some stocks that have given excellant preliminary results seem to be getting hit the hardest.
UTA WKBT CKGT HFGB have all taken hard hits today & they have in common strong 2010 preliminary numbers that the market is not taking at face value without audited numbers.
As for CCME this trading halt may well be auditor related at least thats what the market is saying by punishing those stocks not halted especially those with unaudited 2010 preliminary numbers.
The China r/merger market is in distress now but those that verify good results via audit may see much better days.
Today WKBT saw its p/e ratio drop below 2 on a current basis with 30-50% growth projected for 2011.
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