Home / English Column / Business (new) / In Industry / Finance Tools: Save | Print | E-mail | Most Read | Comment
Regulator Probes Stock Price Surge
Adjust font size:  ZoomIn ZoomOut

China's?stock regulator has launched a probe into suspected insider trading involving Hangxiao Steel Structure Co, whose shares jumped by the daily limit for six consecutive sessions before the disclosure of a huge contract.

 

The investigation, coming at a time when authorities have pledged to crack down on stock-related crimes, may herald a wide-ranging campaign against insider trading, industry sources said.

 

Shanghai-listed Hangxiao Steel said on March 13 that it had won a 34.4 billion yuan (US$4.45 billion) contract to sell construction products and services for public housing projects in Angola.

 

The statement, which was made after the firm's shares soared by the 10 percent ceiling for six days, buoyed the stock for another four days before it was suspended from trading on March 16.

 

Industry insiders and media reports raised skepticism that the company could win such a large contract and questioned why its shares soared before the news was made public.

 

Hangxiao Steel has said that the contract was signed with China International Fund Ltd, a Hong Kong-based firm involved in construction activities in Africa.

 

It includes 24.8 billion yuan in construction-product sales and 9.6 billion yuan in fees for construction services.

 

Sources close to the watchdog said yesterday that the stock regulator and its branch in the Zhejiang Province, where Hangxiao Steel is based, have begun investigations into the firm about possible irregularities.

 

An official at the China Securities Regulatory Commission confirmed the investigation yesterday, declining to comment further. Officials at Hangxiao Steel and China International Fund were not available for comment.

 

The regulator is collecting evidence and plans to transfer anyone involved in illegal securities activities to the prosecutors," said a Shanghai-based source close to the watchdog.

 

The State Council last month approved the establishment of a joint task force among seven government departments to crack down on illegal securities activities.

 

Another firm that has been targeted for investigation for alleged insider trading is GF Securities Co, which in September proposed to buy control of Shenzhen-listed Yan Bian Highway Construction Co for a back-door listing, Caijing Magazine said on Wednesday.

 

The deal hasn't been approved because the regulator suspected some managers at GF illegally profited by buying Yan Bian shares before the transaction was made public, the magazine said.

 

(Shanghai Daily March 23, 2007)

 

Tools: Save | Print | E-mail | Most Read
Comment
Pet Name
Anonymous
China Archives
Related >>
- New Regulations to Ban Speculative Stock Issues
- Over 1 Mln Accounts Open in Post-festival Stock Frenzy
- Market Shrugs off Rate Hike
- Fear of Stock Market Bubbles Played Down
- China Stock Markets Set New Record
Most Viewed >>

Product Directory
China Search
Country Search
Hot Buys
主站蜘蛛池模板: 性xxxxfreexxxxx喷水欧美| 欧美重口另类在线播放二区| 国产愉拍精品视频手机| 亚洲激情电影在线| 国产精品揄拍一区二区久久| 国产麻豆一精品一av一免费| 一个人看的www日本高清视频| 极度另类极品另类| 亚洲欧美在线观看| 男人一进一出桶女人视频| 国产成人亚洲综合网站不卡| yin荡护士揉捏乱p办公室视频| 日本一卡2卡3卡4卡无卡免费| 亚洲AV香蕉一区区二区三区| 污污动漫在线看| 国产成人啪精品视频免费网| 2021免费日韩视频网| 在线观看免费成人| 久久久国产视频| 最新国产三级久久| 亚洲免费网站在线观看| 波多野结衣伦理电影在线观看| 免费在线观看色| 韩国毛片在线观看| 国产黄色片在线观看| 一个人看的www在线观看免费| 成年性生交大片免费看| 亚洲午夜久久久影院伊人| 波多野结衣视频网址| 你是我的城池营垒免费看| 精品久久人妻av中文字幕| 国产成人午夜精华液| 33333在线亚洲| 国产精品日韩专区| 一卡二卡三卡在线观看| 日韩精品免费一区二区三区| 亚洲综合综合在线| 男女裸体影院高潮| 国产人人为我我为人| 91se在线视频| 在线亚洲人成电影网站色www|