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China warns of cross-border stock market manipulation

Xinhua, November 4, 2016 Adjust font size:

China's stock market regulator raised the alarm about overseas market manipulation on Friday, as mainland and Hong Kong markets become increasingly connected.

The China Securities Regulatory Commission (CSRC) held a joint training session on market manipulation with the Securities and Futures Commission of Hong Kong .

Cross-border manipulation has become major worry for both mainland and Hong Kong authorities recently, the CSRC said in a statement. Markets are threatened by highly-leveraged funds, multiple domestic and overseas accounts in Hong Kong, and by overseas servers that offer unfair technological advantages.

There is been growing demand for coordination between the mainland and Hong Kong regulators in law enforcement since the Shanghai-Hong Kong stock link program were launched in 2014, according to the CSRC.

The Shanghai-Hong Kong stock connect allows investors to trade selected stocks on each other's exchanges within a fixed daily quota. A similar arrangement between the Shenzhen and Hong Kong bourses is expected to start this month.

These programs give foreign capital easier access to the mainland market, facilitate cross-border flow of the yuan funds and help the Chinese currency go global. Endi