Arab Today, arab today china steps up crackdown on unruly stock market with fines
Last Updated : GMT 21:46:51
Arab Today, arab today
Arab Today, arab today

China steps up crackdown on unruly stock market with fines

Arab Today, arab today

Arab Today, arab today China steps up crackdown on unruly stock market with fines

A screen shows falling
Shanghai - AFP

China's top stock market regulator said Friday nearly 20 companies would be fined for "illegal market activities," as it struggles to restore confidence after a months long share price rout.

The China Securities Regulatory Commission (CSRC) will fine 18 companies and more than a dozen individuals around 1.1 billion yuan ($173 million) for violations including "market manipulation," it said.

China is struggling to restore confidence in its stock markets, intervening on a broad scale amid months of declines which began in June and roiled exchanges worldwide.

It earlier banned shareholders holding at least five percent stakes and company executives from selling stock, as part of its "rescue package" aimed at boosting the market.
The agency said it will also confiscate around 329 million yuan from the companies and 13 individuals involved.

Analysts have criticised China's intervention -- costing tens of billions -- in its stock markets, with the chief of Goldman Sachs this week calling it "ham-handed," and "sloppy."

"They don't have a lot of experience in this market stuff," Lloyd Blankfein said, referring to the ruling Communist authorities.

China's stock market is thought to have little connection with economic fundamentals, but the rout has added to fears about the country's growth.

The Federal Reserve held its key interest rate locked at zero Thursday, citing worries about how China's slowdown will hit the US economy.

China's ruling Communist party said this week it was probing an assistant chairman of the CSRC for possible corruption.

 

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 china steps up crackdown on unruly stock market with fines Arab Today, arab today china steps up crackdown on unruly stock market with fines

 



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 china steps up crackdown on unruly stock market with fines Arab Today, arab today china steps up crackdown on unruly stock market with fines

 



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 Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
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