www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Markets

Detention of fund manager roils investment sector

By Li Xiang (China Daily) Updated: 2015-11-03 07:32

The detention of a high-profile Chinese fund manager stirred the country's equities investment sector on Monday, underscoring the intensified government crackdown on illegal activities in the volatile Chinese stock market.

Xu Xiang, general manager of the Shanghai-based private equities firm Zexi Investment, has been detained and is being investigated by the police on suspicion of insider trading and market manipulation, Xinhua News Agency reported, citing the Ministry of Public Security.

Xu's detention came as the country's securities watchdog stepped up the effort to eradicate illegal trading after the stock market experienced a dramatic fall that wiped out $5 trillion in market value during the summer.

Market observers said that the case could herald a fresh round of crackdowns on financial crimes as the country's top anti-graft agency, the Communist Party's Central Commission for Discipline Inspection, turns its attention to the financial industry by carrying out inspections of possible mis-conduct and corruption in major financial institutions as well as in the securities regulator.

Xu, at the age of 37, was considered a legendary investment figure on the Chinese stock market, since his firm managed to repeatedly outperform the market with investment returns exceeding 300 percent-even when the market suffered sharp declines.

With only a high school education, Xu began to trade stocks at the age of 17. Nicknamed one of the "dare-to-die" traders, Xu was known for his aggressive investment strategies, and he soon rose to become a star fund manager due to his market-beating performance.

The value of assets under his management had exceeded 10 billion yuan ($1.58 billion), and the stocks he invested were chased by many retail investors.

On Monday, news about Xu being investigated set the Chinese investment circle abuzz, and a photo of Xu wearing handcuffs went viral on the Internet, although details of the investigation were limited.

Phone calls to Zexi Investment were not answered. Stocks that are part of Xu's investment portfolio suffered heavy losses on Monday as investors rushed to dump the risky assets.

"Professionally speaking, the performance of Xu's fund almost looked like a myth to me ... and it is not surprising that he became a target of the regulator," said a fund manager in Beijing who requested anonymity.

In a separate probe, police arrested several executives of Yishidun International Trade Co, registered in Jiangsu province, and Shenzhen-based futures brokerage China Fortune Futures, Xinhua reported, also citing the Ministry of Public Security. They are suspected of manipulating the stock index futures market by using a high-frequency trading strategy and reaping illegal profits of more than 2 billion yuan, according to Xinhua.

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 日韩在线国产精品 | 欧美不卡一区二区三区 | 亚洲va中文字幕 | 国产精品成久久久久三级 | 18videosex性欧美69超高清 | 伊人色综合久久天天人手人停 | 最近日本免费观看视频 | 亚洲免费观看视频 | 精品国产一区二区三区在线观看 | 国产最新精品 | 日韩免费毛片全部不收费 | 久草视频福利在线观看 | 久久久青草 | 精品国产午夜久久久久九九 | 成人在线精品视频 | 亚洲黄色成人 | 日本综合欧美一区二区三区 | 欧美日韩在线观看免费 | 亚洲 欧美 日韩中文字幕一区二区 | 亚洲精品久久久午夜伊人 | 国产欧美在线播放 | 中文字幕在线观看不卡视频 | 国产成人香蕉久久久久 | 日韩欧美视频一区二区三区 | 亚洲国产成人综合 | 国产91精品一区二区麻豆亚洲 | 一区二区在线欧美日韩中文 | 国产v精品成人免费视频400条 | 成年网站在线在免费播放 | 亚洲精品成人久久久影院 | 失禁h啪肉尿出来高h | 欧美一级毛片高清毛片 | 欧美成人久久一级c片免费 欧美成人看片黄a免费 | 中文乱码一二三四有限公司 | 白嫩美女直冒白浆 | 亚洲一区www | 九九九精品 | 91精品视频在线播放 | 国产网站免费在线观看 | 萌白酱粉嫩jk福利视频在线观看 | 亚洲男人的性天堂 |