Total Assets$XTALPI(02228.HK)
Fake News Dissemination Timeline (Today)
08:15–08:40 Source (Earliest)
A forged screenshot of a "MSCI April Deletion List" appeared in Hong Kong stock trader WeChat/QQ groups, stating "Jingtai Holdings (02228) — Removed from the Small Cap Index".
No official link, no MSCI watermark, clearly a photoshop job.
08:40–09:00 Spread to Snowball/Stock Forums
Someone posted the group chat screenshot to the Snowball Jingtai discussion area and East Money Stock Forum, with the title: "Breaking! MSCI Removes Jingtai".
No authoritative media reposted it at this time.
09:00–09:15 Exploited by Short Sellers, Plunge at Market Open
Before the market opened, short sellers placed large sell orders, using the panic of "being removed" to hammer down the price.
The opening price was HKD 8.99, instantly plummeting to HKD 8.11 (maximum drop >10%).
After 09:30: News Ferments, Retail Investors Panic and Follow the Trend
Some self-media and short video accounts forwarded the news without verification, amplifying the panic.
It wasn't until after 10:30 that accounts began debunking the rumor: "No MSCI adjustments in April, the list is forged."
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