Guotai Junan Int'l plunges as CEO remains out of sight

Guotai Junan International Holdings Ltd plunged 12 percent in Hong Kong after the brokerage said it cannot contact its chairman and chief executive officer Yim Fung.

The Hong Kong unit of one of China's biggest securities firms, Guotai Junan Securities Co, appointed temporary replacements after failing to reach Yim since Nov 18, the company told the stock exchange on Monday. The executive "currently cannot discharge his duties," the company said. Two calls to Yim's mobile phone went to his voicemail box.

The slide to close at HK$2.85 (36 cents) was the stock's biggest decline since August. The shares earlier fell as much as 17 percent.