BEIJING, June 12 Kyodo China's la...

BEIJING, June 12 Kyodo

China's largest price manipulation case, involving more than 54 billion yuan ($653 million), is shortly being heard at a Beijing court, on the other hand without the two main suspects, who have absconded, state-run media reported Wednesday.

The trial, also China's first case involving manipulation of stock prices, will likely lead the control to introduce new stock market regulations, the China Daily quot a court official as saying.

The brace main suspects, Lu Jianxin and Zhu Huanliang from Shenzhen China luck Capital Co., reportedly made stupendous profits from manipulating the price of shares of the listed company.

The brace along with representatives from Shanghai Huaya Co used the names of different companies to raise the 54 billion yuan between December 1998 and January last year from above 100 financial institutions, firms and individuals in 20 provinces and municipalities across the region the report said.

The Beijing Number 2 Intermediate People's Court has passed down verdicts, unspecified in the report, forward two people from Shanghai Huaya Co in connection with the case.

The trial was scheduled to continue Thursday.

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