China freezes Citadel unit's account in war on stock speculation

Reuters reports:

China's markets regulator has frozen a trading account linked to Citadel Securities, a unit of the U.S. group that also owns hedge fund Citadel LLC, as Beijing battles against speculators to prop up China's ailing stock markets.

The regulator, which has declared war on "malicious" short selling, has been at the forefront of a government-orchestrated campaign to prevent a meltdown in the two main stock markets, which have tumbled some 30 percent since mid-June.

Malicious.