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A woman reacts in front of an electronic screen displaying stock prices at a brokerage house in Hangzhou in east China's Zhejiang province, Monday, Feb. 5, 2024. Chinese shares gyrated on Monday, sinking to 5-year lows, after stock market regulators sought to reassure jittery investors with a promise to crack down on stock price manipulation and "malicious short selling." (Chinatopix Via AP)

China markets regulator promises to protect small investors as stocks hit 5 year lows

China's stock market regulators have renewed their effort to reassure jittery investors by promising to crack down on stock price manipulation and “malicious short selling.”

By ELAINE KURTENBACH
Published - Feb 05, 2024, 03:06 AM ET
Last Updated - Feb 05, 2024, 06:36 AM EST

BANGKOK (AP) — Chinese shares gyrated on Monday, sinking to 5-year lows, after stock market regulators sought to reassure jittery investors with a promise to crack down on stock price manipulation and “malicious short selling.”

Shares in Shanghai and the smaller market in Shenzhen, near Hong Kong, swung between big losses and small gains throughout the day. The markets have languished on heavy selling of property shares that have suffered with a slump in the real estate market.

Market observers said there were signs the authorities had, as is often the case, ordered big institutional investors to step up buying of state-owned banks and other heavyweights.

The Industrial & Commercial Bank of China gained 2.3%, Bank of China was up 2.6% and the Agricultural Bank of China rose 2.2%.

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