HANNY Magnetics shares slumped to a record low yesterday, losing a further 5.5 cents to close six per cent down at 85.5 cents. The counter continued its slide as investors dumped the stock on concern the company had a bit more than it could chew when it bought Memorex from Tandy Corp last year. Last month, Hanny said its borrowings had increased significantly to finance the acquisition, adding the purchase might be a burden in the short term. Investor sentiment took a turn for the worse last week when the company announced its newly acquired business was making a loss, dragging Hanny's earnings down 73 per cent to $30.8 million. Since then the share price has continued to deteriorate, but there have been no further announcements from Hanny on the state of its business or the reason for the unusually high turnover and sagging share price. Late last year, the stock out-performed the Hang Seng Index, but has dropped 50.6 per cent from $1.73 a month ago. Property group Chuang's China also performed badly yesterday, falling 5.9 per cent as investors continued to react poorly to its rights issue plans. The counter closed 3.5 cents lower at 55 cents on a turnover of $4.03 million. Chinese medicine retailer Nam Pei Hong was suspended, pending a takeover offer from Victoria Montreux. The company said it was considering the terms of the offer and would inform the public of further developments. China Pharmaceutical topped the performance list, with its share price rising 10.24 per cent, or 10.5 cents, to $1.13 on a turnover of $34 million. The company, which makes vitamin pills in China, is controlled by mainland interests. Foreign buyers continued to show strong interest in H shares, with Qingling Motors one of the heaviest traded, at $108.28 million. The counter closed 21 cents higher at $3.23.