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在线翻译:
szdaily -> Markets -> 
Shanghai bourse warns investors of surging new stock
    2018-04-12  08:53    Shenzhen Daily

CHINA is no stranger to fat gains in newly listed shares, but one standout has caught the regulator’s attention and concern.

The Shanghai Stock Exchange has asked some brokerages to warn investors to exercise caution when trading shares of Tianjin 712 Communication & Broadcasting Co., sources familiar with the matter said.

Investors who continue to speculate on the stock will be punished, as will brokerages that prove to be “ineffective” in managing the trades, said the sources.

The authorities have been cracking down on wrongdoing in the country’s capital markets for more than a year, issuing record penalties against manipulators, including fines totaling 5.5 billion yuan (US$870 million) against one company last month.

The exchange did not specify what level of trading it considered speculation or how it might punish violators, the sources said. Tianjin 712, a maker of civil communication equipment, jumped by the 10 percent daily limit Tuesday, taking offer-to-date gains to 959 percent.

That is the most among 39 new listings this year and compares with an average gain of 179 percent. It is the best performing stock this year among more than 3,000 A share firms. The stock closed down 0.42 percent after jumping 9.73 percent to 52.88 yuan yesterday. (SD-Agencies)

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