Manipulators? They don’t need to look far ….where are the Rothschild and the rest of the crooneys?
Chinese stocks tumbled again on Friday, taking the week’s losses to more than 10 percent, as the securities regulator said it was investigating suspected market manipulation and announced a slew of measures aimed at heading off a full-blown crash.
After a slump of nearly 30 percent in Chinese stocks since mid-June, the China Securities Regulatory Commission (CSRC) has set up a team to look at “clues of illegal manipulation across markets”.
After market close, a CSRC spokesman said China would cut initial public offerings and capital raisings and support long-term investors entering the market to help stabilize prices.
It also said China’s official margin lender for brokerages, which makes loans available for stock market investment, would boost its capital base to 100 billion yuan ($16 billion) from 24 billion yuan to expand its business.
A flurry of policy moves over the past week, including an interest rate cut and a…
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