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]