China securities regulator scrutinizes stock price-rigging suspects

The China Securities Regulatory Commission (CSRC) is investigating multiple institutions and individuals suspected of rigging the prices of 18 stocks, South China Morning Post reported, citing a statement from the commission and an unnamed source. The CSRC has yet to reveal the names of suspected investors, but has obtained sufficient evidence of stock market manipulation according to a source close to the commission. The Shanghai Composite Index has risen by over 40% since the end of August as investors have rushed to take advantage of a sudden market rally that many hold is not grounded on fundamentals.