Arab Today, arab today major chinese brokerage guosen under investigation
Last Updated : GMT 12:19:39
Arab Today, arab today
Arab Today, arab today

Major Chinese brokerage Guosen under investigation

Arab Today, arab today

Arab Today, arab today Major Chinese brokerage Guosen under investigation

The Shenzhen Stock Exchange building, in southern China
Shanghai - AFP

One of China's biggest brokerages is being investigated by market regulators for suspected "rule violations", it said on Friday, weeks after its president hanged himself.

The confirmation of the probe into Guosen Securities came a day after the country's largest broker, Citic Securities, said it was being investigated, following inquiries into several of its executives for insider trading.

The investigations by the China Securities Regulatory Commission (CSRC) are part of a growing crackdown on the financial sector after a market rout spooked investors worldwide.

Guosen Securities' president Chen Hongqiao hanged himself last month after authorities prevented him from leaving the country. The firm is the eighth biggest brokerage in China by assets, according to a 2014 ranking by the Securities Association of China.

In a statement to the Shenzhen stock exchange, Guosen said it "will actively assist the investigation and release any progress in a timely manner", adding it was "operating normally".

The investigation is the latest in a national crackdown on price manipulation, short selling and insider trading in the financial sector following a stock rout that wiped trillions of dollars off the country's exchange boards.

After soaring 150 percent in one year in a debt-fuelled bubble, the Shanghai and Shenzhen bourses went into a tailspin in June that extended into August, tumbling nearly 40 percent despite massive intervention by the authorities.

Securities stocks tumbled on Friday morning following the investigation's announcement, with Guosen Securities slumping 6.01 percent in Shenzhen by midday.

Haitong Securities halted trading in its shares in Hong Kong and Shanghai, saying in an announcement to the Hong Kong exchange that the move was made "pending the release of an announcement which may constitute inside information".

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today major chinese brokerage guosen under investigation Arab Today, arab today major chinese brokerage guosen under investigation

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today major chinese brokerage guosen under investigation Arab Today, arab today major chinese brokerage guosen under investigation

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 23:13 2017 Sunday ,18 June

New ransomware virus attacking mobiles in Oman
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday