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Regulator tries to ease market fears, saying it is ‘protecting investors’

Blumont Group’s independent auditor, Moore Stephens, has drawn attention to an issue that may have significant bearing on the group’s ability to continue as a going concern.

Reuters

The question is not why the company’s share price recently collapsed - but why it has taken so long. Are there more such cases to come?

Ms Quah Su-Ling, the chief executive of public-listed Ipco International, sued Goldman Sachs International for allegedly having “dumped” 65 million of her shares in the market in October 2013, causing a dramatic price fall.

To get a sense of the frenzy in China’s world-beating equity market, consider this: In a two-week span last month, the rally lured 2.8 million rookie stock pickers, almost the equivalent of Chicago’s entire population.