Market manipulation appears to be one step in China’s congress choreography
Beijing/Shanghai — China’s securities watchdog has asked some loss-making companies to avoid publishing quarterly results this week, as authorities seek to ensure stock-market stability during the Communist Party Congress, according to people familiar with the matter. The China Securities Regulatory Commission made its requests via the country’s stock exchanges, the people said, asking not to be named as they are not authorised to talk to the media. At least 17 Shenzhen-listed companies announced delays to their earnings reports from October 20 to October 24, up from three during the same period last year, exchange filings show. The China Securities Regulatory Commission and China’s bourses did not immediately respond to faxed requests for comment. Chinese regulators have stepped up efforts to quell market volatility during the twice-a-decade congress, a highly choreographed reshuffling of the country’s top leadership that’s expected to shape President Xi Jinping’s influence into th...
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