BEIJING: China stocks started lower on Tuesday, edging marginally weaker ahead of market crisis that followed an official crackdown on credit goods that have been blamed as fueling unnecessary market speculation over the past months.
Market talk that China’s regulators intentionally sought to suppress a stock rally by taking actions that led to Monday’s sharp drop in share prices “is not consistent with facts” said Deng Ke, spokesman for the China Securities Regulatory Commission (CSRC).
The CSI300 index dropped 0.55 percent while the Shanghai Composite Index fell 0.06 percent.
The indices fell 7.7 percent on Monday, their biggest one-day drop since the global financial crisis, as many financial shares plunged by their 10 percent daily limit.
China’s securities regulator punished industry heavyweights for illegal operations in their margin trading. Banks were hit after the banking regulator issued draft rules to tighten supervision of entrusted loans, a kind of shadow banking product.
shanghai shares start week with losses 25 june 2018
Hong Kong, (UrduPoint / Pakistan Point News - 25th Jun, 2018 ) :Hong Kong and mainland Chinese stocks fell on...
