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 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 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 and Haitong International Securities, were not under investigation.