Shanghai Stock Exchange down 7.70%, the worst drop in six years – Terra Colombia

Shanghai Stock Exchange down 7.70%, the worst drop in six years – Terra Colombia

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January 19, 2015 • 8:33

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The Shanghai Stock Exchange fell 7.70% on Monday in reaction to the sanctions adopted by the regulatory agencies against three major culprits speeding brokerage transactions.

The Shanghai Composite Index lost 260.15 points and closed at 3116.35 points, having reached down 8.33% during the session.

This is the greatest defeat suffered in six years the floor of Shanghai, first bag mainland China. On June 10, 2008, the index fell 7.73% in one day.

The Shenzhen Stock Exchange lost 3.39% meanwhile, to 1428.37 points.

The Regulation Committee of the Chinese Markets (CSRC) announced Friday sanctions against the three major brokerage firms in the country: Citic Securities, Haitong Securities and Guotai Junan Securities

They were found guilty of violating the rules. on margin trading when brokers dealing in the stock market to raise capital.

The decision of the authority of the Chinese stock market “has dealt a blow to the market,” he told AFP Shen Jun, analyst BOC International.

After years of delinquency, the Shanghai Stock Exchange took off in 2014 with the active support of the authorities and after the fall surprise on 21 November interest rate the central bank (PBOC ).

Some analysts believe that the regulator could have dealt with this maneuver to calm the market to prevent a bubble.

Investors expect Tuesday’s release of data on growth . 2014