By Martin Mou

The Hong Kong stock exchange has suspended buy orders for Midea Group Co. via the stock connect linking Hong Kong and Shenzhen, where the Chinese home-appliance giant is listed.

The suspension, effective Tuesday, came after foreign ownership of Midea exceeded the 28% cap set by regulators, the Hong Kong bourse said Tuesday. It added that sell orders are still accepted.

The Shenzhen-Hong Kong Stock Connect allows investors in each market to trade in the other market using the trading and clearing facilities in their home market.

Buy orders for Midea via the stock connect was also halted in January this year after foreign investors increased their stake in the company beyond the 28% ceiling. Buying resumed in March when foreign ownership fell below 26%. 



  Write to Martin Mou at martin.mou@wsj.com