China™s
stock-index futures tumbled after the nation™s securities regulator
took measures to rein in margin trading at three of the nation™s biggest
brokerages.
Futures
on the CSI 300 Index expiring in February, the most active contract,
slumped 5.7 percent to 3,474.80 as of 9:18 a.m. local time. The
regulator suspended Citic Securities Co., Haitong Securities Co. and
Guotai Junan Securities Co. from adding margin-finance and securities
lending accounts for three months following rule violations.
The
Shanghai Composite Index climbed 1.2 percent to 3,376.50 on Jan. 16.
Hong Kong™s Hang Seng China Enterprises Index fell 0.9 percent to
12,076.74.
The
Shanghai gauge advanced 2.8 percent last week, a 10th week of gains
that™s the longest winning streak since May 2007, after credit growth
expanded and speculation grew the central bank will cut
reserve-requirement ratios.
The
CSI 300 Index rose 0.9. The Hang Seng Index lost 1 percent. The
Bloomberg China-US Equity Index, the measure of the most-traded
U.S.-listed Chinese companies, added less than 0.1 percent in New York.
Source: Bloomberg
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