"They want to know the logic of the trading , the source of the profit; under which situation you hold net long, or net short positions ... and the reason behind buy and sell orders," the source said.
Global quant fund houses including Winton and Two Sigma have operations in China, but it's not clear if the foreign players are being probed. The weakness has triggered finger-pointing in social media, as well as criticism from fund managers and retail investors against these quant funds and short sellers.
"Brokerages in China are more willing to lend securities to quants for shortselling due to their active trading and commission contributions. But it's unfair to other market players who hardly have access to securities lending," said Yuan Yuwei, fund manager at Water Wisdom Asset Management.
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