Hanoi man fined $31,400 for stock price manipulation

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An investor looks at a stock market screen at a securities company. Photo: Kham/Reuters An investor looks at a stock market screen at a securities company. Photo: Kham/Reuters

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Vietnam’s securities watchdog has slapped a VND705 million (US$31,400) fine on a Hanoi-based man for manipulating the share prices of a stone mining company.
Between August 2013 and October 2014, Tran Thanh Huu used five accounts to create fake demand and supply for the shares of Hanoi-based CMISTONE Vietnam JSC, the State Securities Commission of Vietnam said on its website on Thursday.
But Huu failed to profit from his act, it said.
Vietnam’s stock market eked out a 6.12 percent gain in 2015, the smallest rise in four years. However, it is the sole gainer in Southeast Asia.

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