Fight irregularities

The securities regulator's confidence-building talk may help stabilize the domestic stock market for a while. But it is far from enough to ensure that the market will become stable and healthy after the recent jitters.

Shang Fulin, chairman of the China Securities Regulatory Commission (CSRC), said on Sunday that the commission will mete out severe punishment for those who spread rumors that disrupt the market order.

At a time when the benchmark Shanghai Composite Index has slid to 16-month lows and is about 55 percent below last October's record high, such a tough talk ostensibly aims at boosting investors' confidence.