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Shanghai bourse investigates "abnormal trading" in Ping An, Industrial Bank
April 12, 2017 / 10:30 AM / 7 months ago

Shanghai bourse investigates "abnormal trading" in Ping An, Industrial Bank

SHANGHAI, April 12 (Reuters) - The Shanghai Stock Exchange said on Wednesday it would investigate “abnormal trading” by an unnamed brokerage in shares of Ping An Insurance Group Co and Industrial Bank Co Ltd.

The exchange said in a statement that it had noticed massive selling of Ping An and Industrial Bank shares by a certain brokerage via an asset management account, which triggered sudden falls in the stocks just moments before the market close on Wednesday.

The exchange said it immediately suspended trading in that account and would talk to the brokerage’s manager and investigate into the issue.

The two companies’ share prices recovered by market close, with Ping An ending down 0.5 percent and Industrial Bank falling 1.1 percent. (Reporting by Samuel Shen and John Ruwitch; Editing by Christian Schmollinger)

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