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Galaxy Securities staff cooperating with authorities, company says

Fixed income chief Dai Xu at China Galaxy Securities (6881.HKG), along with two other employees, are cooperating with China’s judicial authorities, Bloomberg reported, citing a statement from the company. The staff are involved “due to personal reasons,” the company, a Hong Kong-listed broker partly owned by China’s sovereign wealth fund, said yesterday in a statement to Hong Kong’s stock exchange. The announcement came after Chinese media reports of government probes in the securities industry focused on corporate-bond underwriting and issuance. The Beijing-based company didn’t draw any link with such investigations in its statement.

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