Hong Kong regulator freezes broker accounts linked to firm whose shares jumped 1,300 pct

Carmen Century Investment

20/03/2019 09:42

HONG KONG, March 20 (Reuters) - Hong Kong's securities
regulator ordered on Wednesday nine brokers to freeze client
accounts related to suspected manipulation of shares in
investment firm China Ding Yi Feng Holdings  0612.HK  between
2018 and early 2019.
    Trading in Ding Yi Feng's shares had been suspended since
last week at the direction of the Securities and Futures
Commission (SFC). The stock jumped 145 percent in 2018 following
a 1,303 percent surge in the previous year.
    The SFC said https://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=19PR23,
 in the interests of investing public, the nine brokers were
prohibited from disposing of assets held in the accounts, and
from dealing with them in any way. 
    The securities watchdog said the brokers, including Guotai
Junan Securities  601211.SS  and Haitong International
Securities  0665.HK , were not under investigation. 
    China Ding Yi Feng officials could not be immediately
reached for comment.
    The company said in a Monday night exchange filing that the
SFC visited its premises with a search warrant, on March 8, for
the purpose of obtaining documents and information in relation
to an investigation and seized certain documents.
    There have been no charges or arrests made in connection
with the execution of the search warrant, the company added. 
    Last Thursday, Ding Yi Feng's shares closed at HK$23.10,
compared to an all-time low of HK$0.144 plumbed in 2013.

 (Reporting by Alun John, additional reporting by Donny Kwok;
Editing by Subhranshu Sahu)
 ((Alun.John@thomsonreuters.com; +852-28415827;))