RPT-China cracks down on manipulation at feverish over-the-counter stock market

April 1, 2015 9:00 PM

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SHANGHAI, April 1 (Reuters) - China's leading over-the-counter(OTC) equity exchange is cracking down on illegal trading, with concerns growing that the market, which is aimed at small high-growth firms and private equity investors, is overheating.

The operator of Beijing's "New Third Board" said late on Tuesday it was investigating a series of "ultra-high" price quotations during the week of March 23-27. The price of one share of Anhui Hauheng Biotechnology Co Ltd, for example, at one point cost 99999.99 yuan ($16,145) before falling back to ...

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