Stocks plunge as in­ves­ti­ga­tion into bro­kers widens

China Daily (Canada) - - NEWS CAPSULE -

Stocks plunged by the most in three months on Fri­day, as some of the coun­try’s largest bro­ker­ages came un­der reg­u­la­tory probes.

Bro­ker­ages led the de­cline, as an in­dus­trial gauge slumped 9.4 per­cent. Haitong Se­cu­ri­ties sus­pended trad­ing as Reuters and Caixin re­ported it be­came the lat­est bro­ker­age to come un­der in­ves­ti­ga­tion.

CITIC and Gu­osen Se­cu­ri­ties tum­bled by the daily limit of 10 per­cent af­ter an­nounc­ing they were un­der probe by the China Se­cu­ri­ties Reg­u­la­tory Com­mis­sion (CSRC) for al­leged rule vi­o­la­tions and would co­op­er­ate with the reg­u­la­tor. About 17 other bro­ker­ages also fell by 10 per­cent on Fri­day.

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