UPDATE: Hong Kong Bourse Website Technical Problems Cause 7 Hong Kong-Listed Stocks To Halt Trading

HONG KONG (Dow Jones)--Technical problems with the Hong Kong stock exchange's news website Wednesday resulted in afternoon trading halts in seven listed companies that issued price-sensitive information, such as earnings data, during the midday break.

The Hong Kong stock exchange, which requested the trading suspensions, said it is investigating the website problem, noting the news website service will resume "as soon as the technical problem is resolved." The stock exchange's news website is the main public portal for listed company announcements.

The unprecedented trading halts, which involved three of the city's main blue chip stocks, come a day after the benchmark Hang Seng Index plunged 5.7%, in one the biggest stock market declines for the city since 2008, amid a global equities selloff following Standard & Poor's downgrade of its U.S. sovereign debt rating. Companies that have been suspended from trade include blue chips Hong Kong Exchanges & Clearing Ltd. (0388.HK), operator of the exchange, as well as banking giant HSBC Holdings PLC (HBC) and Cathay Pacific Airways Ltd. (0293.HK).

The exchange said its other systems aren't affected and trading in its securities and derivatives markets continues to operate normally.

As a result of the technical problems, issuer documents submitted may not be published on the exchange's website, the bourse operator said.

"This trading suspension policy aims to give all investors sufficient time to understand the contingency arrangements and locate issuers' announcements on their websites," the exchange said in a statement.

Other companies that halted trade for the afternoon session include China Resources Microelectronics Ltd. (0597.HK), China Power International Development Ltd. (2380.HK), Dah Sing Banking Group Ltd. (2356.HK), and Dah Sing Financial Holdings Ltd. (0440.HK).

The seven companies either reported earnings results or other price sensitive information during the lunch break. HSBC announced a deal to sell its U.S. credit card and retail services business.

All seven stocks were broadly higher in morning trade, tracking a rebound in the benchmark Hang Seng Index.

In the meantime, the exchange said investors can refer to a temporary Bulletin Board, at www.bulletinboard.hk, which lists all documents published by issuers.

The Securities and Futures Commission, which regulates the city's stock market, said that the stock exchange "has reported the situation to us and we are following up the matter."

-By Kate O'Keeffe, Dow Jones Newswires; 852-2802-7002; [e-mail]