Shares in brokerage fall after it says some senior manager under investigated

Dog Detective

Shares in CITIC Securities, China's biggest brokerage, fell on Wednesday after the company said some senior managers are under police investigation as part of a probe by Beijing into possible market manipulation linked to the slump in its stock markets.

Reuters reports that authorities are looking at whether market malpractices contributed to the plunge in Chinese equities, which have fallen around 40% since mid-June.

CITIC said late on Tuesday that three company officials, including its general manager, Cheng Boming, are being investigated for alleged insider trading and leaking information.

Cheng is one of the most senior financial executives known to have been embroiled in Beijing's market manipulation probes so far. 

To access the complete Reuters article hit the link below:

Shares in CITIC Securities fall as police probe insider trading

World Bank economists warn Fed hikes may be bumpy for emerging markets

JefferiesAnd the Best Place to Work in the global financial markets 2017 is...

Register for Financial Markets News Alerts