Chinese watchdog investigates manipulation as stocks crash

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The benchmark Shanghai Composite Index has fallen by 30% since mid-June after a huge boom in the first half of the year.

The China Securities Regulatory Commission is thought to be investigating investors who have shorted the market, or bet on prices falling.

The China Financial Futures Exchange is understood to have suspended 19 accounts from short-selling for a month.

Today the CSI 300 index of the largest listed companies in Shanghai and Shenzhen fell 5.4% to 3885.92, while the Shanghai Composite Index fell 5.8% to 3686.92 points.


The sell-off has raised fears that UK investors — including pension funds — could be hit. But Julian Mayo at Charlemagne Capital said: “Whilst Shanghai’s market is taking a bit of a hammering, foreign participation in this market remains very low due to foreign ownership restrictions and its volatility has very little direct impact on UK investors.”

He said there has been some spillover effect into China shares listed in Hong Kong which are owned by foreigners and have also been sold off recently, “but these should not be as vulnerable to further volatility”.

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July 4, 2015 |
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