An insider dealing trial involving a senior Morgan Stanley banker resumes today, promising to shed more light into the workings of major international investment banks on deals in China.
Hong Kong prosecutors allege that Du Jun, a former managing director of the fixed income department at Morgan Stanley Asia, spent HK$86m ($11.1m) acquiring shares in Citic Resources, an arm of China's largest investment conglomerate, in 2007. At the time, Mr Du was part of two teams that advised the Chinese company on hedging and a bond offering related to the company's investment in an oil field in Kazakhstan.
The hearing began last Monday with Mr Du pleading not guilty to 10 counts of insider dealing.
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