证劵类毕业论文外文翻译--香港证券交易所停牌、复牌、退市的制度(编辑修改稿)

证劵类毕业论文外文翻译--香港证券交易所停牌、复牌、退市的制度(编辑修改稿)内容摘要：

ading volume. When determining whether or not any movement in price or trading volume is “unusual”, the Exchange will take into account the historical performance of the stock or the performance of other stocks in the same sector and overall market conditions. Pricesensitive information refers to information which is relevant to a listed pany, necessary to enable holders of listed securities and investors to appraise the position of the issuer or to avoid the establishment of a false market in its securities, or might be reasonably expected materially to affect market activity in and the price of the issuer’s securities (. favourable or unfavourable change in its financial performance, group restructuring, material transaction and issue of securities etc.). Listed issuers are required under the Listing Rules to assess what is pricesensitive information taking into account specific circumstances and their own conditions. In this connection, the Exchange has prepared the Guide on Disclosure of Pricesensitive Information to help listed issuers and their directors fulfil their obligations under the Listing Rules. Regulation of Resumption It has been the policy of the Exchange to refrain from trading suspension unless necessary. Trading suspension is just a tool to address potential and actual market disorder. Even if a trading suspension is necessary, the duration of suspension should be kept as short as is reasonably dealings have been suspended, the procedure for lifting the suspension will depend on the circumstances and the Exchange reserves the right to impose such conditions as it considers appropriate. Under normal circumstances, the Exchange will restore dealings as soon as possible following publication of an appropriate announcement, or when the specific reasons given by the listed issuer in support of its request for a trading suspension no longer apply. In some cases the suspension will be continued until any specific requirements have been met. Where trading in the listed securities has been suspended pending an announcement of pricesensitive information or a notifiable transaction as referred to in the Listing Rules, resumption in trading of the listed issuer’s securities may take place during the mencement of the next trading session after the publication of the announcement. The announcement published by the listed issuer must contain adequate information so that trading can resume in a fair manner with the market fully informed. Disclosure of the suspended panies It is the responsibility of listed panies to make announcements to ensure that investors and the public are given sufficient information for making properly informed assessment of the listed panies’ securities. To enhance market transparency, the Exchange will require panies to issue a short explanation when they request a trading suspension. The Exchange will maintain contact with listed panies when their securities have been suspended from trading,。