China Brokerages Lead Drop as Haitong Securities Halts Trading
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Citic Securities says it’s being probed by regulator
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Industrial profits drop 4.6% in October as slowdown deepens
Chinese stocks slumped as some of the nation’s largest brokerages disclosed regulatory probes and falling profit at industrial companies signaled no improvement in the country’s economic slowdown.
The Shanghai Composite Index dropped for a second day, while the Hang Seng China Enterprises Index sank 2 percent. Citic Securities Co. and Guosen Securities Co. plunged at least 6 percent in Shanghai after saying they were under investigation by the China Securities Regulatory Commission for alleged rule violations, while Haitong Securities Co. suspended trading in its shares without giving a reason. Industrial profits slid 4.6 percent last month, data showed Friday, compared with a 0.1 percent drop in September…
China Brokerages Lead Drop as Haitong Securities Halts Trading
