Overseas Trading: China Stocks Tank Amid Investigation

An investigation into potential trading rule violations sent Chinese brokerage stocks sinking

Nov 27, 2015 at 8:09 AM
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Asian exchanges closed lower today, as an investigation into potential trading rule violations hit Chinese brokerage firms, with Citic Securities just one of the names to receive a formal notice from the China Securities Regulatory Commission. Meanwhile, Chinese industrial profits fell 4.6% year-over-year, and the International Air Transport Association hinted at slowing growth in China, resulting in another down day for airlines. By the close, the Shanghai Composite fell 5.5%, while Hong Kong's Hang Seng dropped 1.9%. Japan's Nikkei dipped 0.3%, as consumer prices and household spending both declined, while South Korea's Kospi ended a wishy-washy day down 0.1%.

European markets are mostly higher at midday, shaking off a Chinese sympathy swoon. While mining stocks continue to struggle, the German DAX and France's CAC 40 are modestly higher, at last check, while London's FTSE 100 is down 0.3%.


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