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China market-rescue effort hurts brokerages more than it helps

HK-listed shares of three securities firms tumble as they get hit by plunge in trading volumes, and are forced to pay part of rescue bill

CAUSE FOR CONCERN: The value of shares traded on the Shanghai Composite Index dropped to a six-month low this week, while volumes in the country's CSI 300 Index futures sank to a record low on Wednesday.

Hong Kong

CHINA'S campaign to end its US$5 trillion equity rout is driving investors away from an unlikely corner of the stock market: the brokerage industry.

Instead of benefiting from government efforts to shore up the market, the Hong Kong-listed shares of Citic Securities Co,...

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