China investor fined 250.7m yuan in first stock connect case

Hong Kong

CHINESE regulators handed down penalties in the country's first market manipulation case involving the stock exchange connect program between Shanghai and Hong Kong.

Tang Hanbo was ordered to pay 250.7 million yuan (S$51 million) for allegedly manipulating a Shanghai stock, Zhejiang China Commodities City Group Co, the China Securities Regulatory Commission (CSRC) said in a statement on Friday.

Tang, separately hit with 925.4 million yuan in fines and disgorgement over domestic tra…