Three Arrested in Chinese Trading Probe – Geoff Dyer

600477.png From Financial Times:

Three men have been arrested on charges of insider trading in the shares of a Chinese construction company, the Xinhua news agency reported Wednesday.

Luo Gaofeng, investor relations officer for Zhejiang Hangxiao Steel‚ÄâStructure , is accused of releasing price-sensitive information, and Wang Xiangdong and Chen Yuxing of trading on the information, said Xinhua.

The high-profile investigation into the dramatic movements in Hangxiao’s share price this year following the disclosure of a large contract in Angola has become an important test of the authorities’ willingness to pursue allegations of illegal trading in the current bull market. [Full Text]

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