SZSE again took the trading restrictions measure on the account in which there existed substantial abnormal trading on ChiNext board. In the case, the account was suspected of intentionally influencing securities trading prices by lifting stock prices by such means as block declaration, high-price declaration, limit closure. The SZSE imposed the 3-month trading restriction on the account, and the case has been reported to the CSRC for investigation.
The SZSE person in charge of the case expressed that a few short-selling large investors lure small investors to blind rush to trade on the ChiNext board by block declaration, continuous declaration, false declaration, high-price declaration or frequent cancellation of declaration in order to cause stock price fluctuation and seek illegal profits.
The person also said that since July of 2009, the SZSE has put the trading restriction measure on eight accounts of substantial abnormal trading in succession. Up to now, the CSRC has investigated into the cases, and the actual controller of one of the accounts has been imposed with administrative punishment, and seven accounts have been put on record for investigation.
The person stressed that the SZSE will continuously keep the high-pressure stance on substantial abnormal trading on the ChiNext board, and it will take close monitoring and strict crackdown on acts suspected of breaking regulations and laws; at the same time, the SZSE will put more effort to strengthen the client management of securities companies. At last, the person seriously reminds that investors shall establish rational investment ideas, avoid by all means blind rush to the stock market and high speculation in order to prevent unnecessary losses.
