Login to your account

Username *
Password *
Remember Me

Create an account

Fields marked with an asterisk (*) are required.
Name *
Username *
Password *
Verify password *
Email *
Verify email *
Captcha *
Reload Captcha

China stocks plummet after margin trade crackdown

Written by  Jan 20, 2015

The Shanghai Composite dropped nearly 8% as investors reacted to the ruling, which will prevent the brokers from opening new margin trading accounts for three months.

Shares of two affected brokerages -- Citic Securities and Haitong Securities -- quickly lost 10%, the daily limit for stocks trading in Shanghai. Guotai Junan Securities, the third broker, was trading down more than 10% in Hong Kong. The fallout was limited to stocks trading in China. Japan's Nikkei gained nearly 1%, and most regional indices finished higher.

Deng Ge, a spokesman for the China Securities Regulatory Commission, said the brokers were caught rolling over margin trading accounts for a large number of clients "and had been warned," according to Reuters.

Last modified on Thursday, 12 February 2015 08:21
Super User

Heirloom consequat, irure reprehenderit duis Shoreditch. Art party wayfarers nihil pour-over cupidatat id. Brunch incididunt minim, in bitters adipisicing.

Website: www.themewinter.com

64 comments

Leave a comment

Make sure you enter all the required information, indicated by an asterisk (*). HTML code is not allowed.

  1. Popular
  2. Trending
  3. Comments

Calender

« June 2023 »
Mon Tue Wed Thu Fri Sat Sun
      1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30