China Market Manipulation Probe Targets Spoofers After Crash

Spoofing has become the latest target in China’s campaign against stock-market manipulation after a $3.5 trillion selloff.

The practice, which involves placing then canceling orders to move prices, is suspected in 24 accounts on the Shanghai and Shenzhen stock exchanges, the China Securities Regulatory Commission said on its microblog. The bourses have restricted the accounts and regulators are investigating program traders, who have recently had an “obvious” impact on the stock market, the CSRC said.