China stock regulator says probing Friday market volatility
BEIJING Aug 16 (Reuters) - China's securities regulator said it is investigating the reason for the volatility in the Chinese stock market on Friday, and would release its findings when the investigation is finished.
Chinese shares rose sharply on Friday morning in a surprise surge that brokers speculated could have been driven by a trading glitch or by belief the government was supporting equity prices.
A spokesman for the China Securities Regulatory Commission said China Everbright Securities Co Ltd would give a public explanation for its trades on Friday. The spokesman declined to be named.
Everbright suspended trade in its shares on Friday, when it said the brokerage's trading system encountered problems.
(Reporting by Ding Qi, Langi Chiang and Koh Gui Qing; Editing by Richard Borsuk)
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