CICC attracts stock market ire

China International Capital Corp accused of dumping the shares it underwrites.

It is perhaps a sign of the tough times China's stock market is going through that even the country's best connected and most successful investment bank has not been able to stop coming under attack for dumping the stock of companies it underwrites, often at the most inopportune moment.

A leading mainland paper, the Economic Observer, recently accused CICC of dumping the stock of telecoms player China Unicom and electronics maker TCL Group and thereby dragging down their share prices.

The paper says that as a result, A-share listed China Unicom's stock price dropped under the hitherto un-breached resistance level of Rmb 3 per share on November...

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