BEIJING (AP) — Chinese stock prices swung wildly Friday after a brief trading frenzy blamed on a brokerage’s computer error.
The country’s fifth-largest brokerage, Everbright Securities Ltd., said later it suffered an unspecified problem with a computerized trading system.
Everbright sent 7 billion incorrect purchase orders for shares, according to a government news agency, China News Service. Everbright asked to have its trades canceled, CNS said. But a statement on the exchange website said any transactions that were completed would be cleared normally.