The Chinese police found evidence showing the alleged price manipulation performed by some companies in the future market of the bag, reported the official Xinhua news agency in a brief note.
This is the preliminary findings, of which more details were given, research released Thursday by the Ministry of Public Security of China on recent falls in stock markets and is still open to waiting for the police finds more evidence, Xinhua added.
Deputy Minister of Public Security Meng Qingfeng, announced Thursday the start of the police investigation and his statements had an immediate effect on the stock markets, which after nearly a month of sharp falls rallied and won nearly 10% in two days.
Meng said police would try to clarify whether there were “malicious” speculative practices during the period of stock market crash, he did lose to the parks about a third of their value and forced to suspend the price of many of the companies.
Chinese equities experienced a long rally from November until last month, which was abruptly interrupted on 12 June, when the stock markets of the Asian giant were at their highest levels in seven years, and led the stage of the steepest decline in 25 years of bag in China.
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