Chinese rocket shares slump after warnings on ‘irrational’ rally

Shares of Chinese companies tied to commercial rocket production tumbled after they cautioned that a recent rally had outpaced underlying fundamentals. Hunan Aerospace Huanyu Communication Technology plunged as much as 20 per cent on Tuesday, while China Spacesat dropped as much as 10 per cent before rebounding. Goldwind Science & Technology, which has a stake in rocket start-up LandSpace Technology, fell more than 13 per cent. China Aerospace Times Electronics Technology, CICT Mobile...