China securities watchdog busts market rumors

BEIJING - The China Securities Regulatory Commission (CSRC) on Wednesday released six cases of information fabrication and vowed to work with the police to crack down on market rumors.

The commission began on June 5 to probe 16 cases of fabricating or spreading misinformation in the stock market and has found major evidence for six of them.

Some institutions and individuals made profits from the rumors, which caused chaos for the shares of some listed companies, according to the CSRC.

The commission said rumormongers allegedly violated the law, and it has transferred the cases to the police.

The CSRC said China's ailing stock market is now very sensitive, and it will cooperate with the police to clamp down on rumors.