Identifying Suspicious Cases in the Hong Kong Stock Market Using Commentators' Stock News

Stock market is one of the most active secondary markets in the finance industry. Investors buy and sell stocks there. Regulators are in place to offer a fair place for trading. Unfortunately, market manipulation of different forms still exists. Limited researches worked on this area due to restriction in data supply. Exchanges and regulators do not offer full order book to the public. Without a full order book, it is difficult to locate the fraud intention of manipulator. This paper introduces a new method to identify suspicious cases: identifying suspicious cases by parsing the stock recommendation news written by stock commentators. Some suspicious cases are found in the study.