Big losses on Chinese markets impacting elsewhere
Lots of people asking why Chinese markets have been tumbling and posting biggest losses since Sept
Well, I've done a bit of digging around and Reuters are reporting the move is due to a story they ran about the Chinese regulatory authorities extending their probe into brokerage companies
They have now added Haltong Securities to the list in addition to CITIC and Guosen
I also read recently that a few key players/heads of companies have gone missing
Surely the two can not be connected can they?...
Markets had already been a little flaky after the regulator urged brokerages to cease financing client's stocks purchases through swaps and other OTR contacts in a move to curb leveraged trading
Shabby corp earnings also being cited for the equity market falls along with some nervousness aead of the IMF decision on Monday on yuan inclusion in SDR basket
