China court doles out 700m yuan penalty to trading firm
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Shanghai
A CHINESE court meted out a nearly 700 million yuan (S$142 million) punishment to a Russian-controlled high-frequency trading firm for futures market manipulation on Friday, drawing a line under one of the most high-profile cases of misconduct Beijing blames for contributing to the 2015 stock market crash.
The verdict by the Shanghai No 1 Intermediate People's Court, posted on its official microblog, also involves a penalty to two executives of Yishidun International Trading Co. The ruling comes at the end of a week in which index publisher MSCI agreed to include China's domestic shares in its emerging market benchmark.
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