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China: Stocks head for worst week since 2008 amid margin concern
[SHANGHAI] China's stocks fell, sending the benchmark index toward its steepest weekly loss since 2008, amid concern the government will clamp down on margin trading and valuations are excessive after a world-beating rally over the past year.
The Shanghai Composite Index dropped 1.5 per cent to 4,712.15 at 9:33 am, extending losses to 8.7 per cent this week. The China Securities Regulatory Commission is working on margin-trading risk management rules for securities firms, the 21st Century Business Herald reported, without citing anyone.