China Exchange Warns About a Standout New Stock Up 959 Percent
- Brokers are asked by Shanghai exchange to warn investors
- Stock jump makes it the best A-share performer this year
This article is for subscribers only.
China is no stranger to fat gains in newly listed shares, but one standout has caught the regulator’s attention and concern.
The Shanghai Stock Exchange has asked some brokerages to warn investors to exercise caution when trading shares of Tianjin 712 Communication & Broadcasting Co., people familiar with the matter said. Investors who continue to speculate on the stock will be punished, as will brokerages that prove to be “ineffective” in managing the trades, said the people, who asked not to be named because the information hasn’t been made public.