Over 350 firms delay, cancel their financing plans

The number of firms across the world that have delayed or cancelled financing plans soared to at least 358, as the global economy continues to battle inflation and energy shortages. These companies suspended nearly HKD2tr (USD256bn) worth of financing plans amid sluggish market sentiment. The Americas saw the highest number of transactions being postponed or shelved at 184, which was more than double the tally for other regions. These came as the China Securities Regulatory Commission stressed the need to maintain market stability. China's securities regulator said they will make stable capital market operations a top priority amid deepening worries about the economic outlook and fluctuations in stocks. CSRC chairman Yi Huiman in Qiushi said that it is a rule that the stock market has ups and downs, and the government should not intervene in normal fluctuations.