"China’s official mouthpiece, the People’s Daily, said Dec. 1 that an international investment bank manipulated stock markets for its own gain and a group email that it sent to investors triggered off a plunge in share prices on Nov. 12.
In a commentary contributed by Shi Jianxun, a professor at Tongji University, an unnamed international investment bank allegedly sent emails to investors, advising them to sell their shares. The article, titled “Where is China’s stock market heading in the next two decades?” said that rumors of impending stamp taxes also sent the market into a tailspin.
On Nov. 12, the Shanghai Composite Index fell 5.16%, the largest single-day drop in 2010 so far. The China Securities Regulatory Commission has started a probe into the alleged manipulation and has not released their findings.
The article, published on the front page of the overseas edition of the People’s Daily, said that China should avoid dramatic fluctuations in the stock market and make it a major vehicle to increase the wealth of the masses. The overseas edition targets audiences outside of the mainland.
“Big fluctuations on the stock market have a remarkable impact not only on the economic development of China’s economic development, but also on the harmony and stability of the society,” said the commentary..."
at http://jessescrossroadscafe.blogspot.com/2010/12/currency-wars-chinas-gold-imports-soar.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+JessesCafeAmericain+%28Jesse%27s+Caf%C3%A9+Am%C3%A9ricain%29
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