I have been buying shares of a medium-sized HK company before and during the current "slight adjustment".
One thing that I didn't really understand was why the share value of this company didn't drop as much as that of other companies. Today I checked the volume of transactions during the last few days, and I noticed something very peculiar: Thursday, Friday, Monday and Tuesday (i.e. the last four days, I only have data for the last 5 days) someone bought 2,000 shares (the smallest possible amount) for about 3.5% more than the previous price, about 5 minutes before the market closure, thus bringing up the closing price by 3.5%.
This can't possibly be done by a wise investor, since the price of the 2,000 shares would have been about HK$950, and the costs (HK$150 or so) would make this purchase totally silly. It's obviously done to bring up the price, and prevent it from sliding further (it almost didn't drop at all from May 6).
I wonder under what conditions this is illegal. Of course one can decide to make very silly decisions as to how to invest one's money, but I believe that market manipulation is sometimes illegal. What do you people think?
Maybe this is actually relatively common?