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Zoomlion shares fall despite denial
Aggregated Source: Shanghai Daily: Business

SHARES of Zoomlion Heavy Industry Science and Technology Co fell after they resumed trading yesterday despite the company denying allegations it manipulated sales.

Zoomlion dropped 5.43 percent to HK$7.49 (97 US cents) in Hong Kong, a 20-month low, and shed 2.47 percent to 7.11 yuan (US$1.16) in Shenzhen.

A Chinese newspaper had said Zoomlion falsified data by counting uncompleted orders as sales in central China.

In a late Tuesday statement, Zoomlion said the latest media allegations are "false, groundless and misleading."

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Copyright Shanghai Daily: Business