Glencore shares dive 27.5% in Hong Kong on global commodities slump

Glencore shares dive 27.5% in Hong Kong on global commodities slump

Shares (Berlin: DI6.BE – news) in mining giant Glencore (Xetra: A1JAGV – news) plunged 27.52 percent in Hong Kong Tuesday morning, hammered by weak commodity prices as Chinese demand slows while a brokerage warned approximately its impact on the group’s future.

In mid-morning trade Glencore was 27.52 percent down at HK$8.90, after a similar plunge in its London-listed arm. Investec (LSE: INVP.L – news) said in a research note Monday the “challenging environment for mining companies” made it questionable how much value would be left for Glencore equity holders if commodity prices remained subdued.

Source: “AFP”