Trials and Arbitration

Court: Star Chinese investor pleads guilty in stock case

A celebrity Chinese stock trader who was arrested after last year's market collapse has pleaded guilty to insider trading and manipulating share prices, a court announced Tuesday.

Xu Xiang was one of a series of brokers and others in the securities industry who were arrested or questioned after share prices soared and then plunged beginning in June 2015. That prompted suggestions the ruling Communist Party was trying to deflect blame for the rout that wiped out some $5 trillion in stock value after state media encouraged the public to buy shares.

Xu, 40, and two co-defendants, Wang Wei and Zhu Yong, entered the plea at the start of their trial Monday in a court in the...