Wang Xiaolu and Stock Market

stock market crash: Wang was held for fabricating and spreading fake information on securities and futures markets, according to Xinhua, a state-run news agency, according to The Japan Times. According to the report, Wang confessed that his false information had caused panics and disorder at stock market, seriously undermined the market confidence, and inflicted huge losses on the country and investors. Wang Xiaolu, a journalist with Caijing magazine, was detained by Chinese authorities following China recent stock market crash. Wang wrote a story in July saying the securities regulator was studying plans for government funds to exit the market. Xinhua reported that authorities had also detained an official from China securities watchdog and four senior executives of the country major securities dealer for stock market violations. The China Securities Regulatory Commission quickly denied the Caijing story, labeling it irresponsible . But Caijing said it defended journalists’ rights to do their duty under the law, according to a statement posted on its website. (news.financializer.com). As reported in the news.