Chinese shares lead Asia lower on economic fears
15 Septembar 2015, Nirapad News: Mainland Chinese shares led the rest of the region lower as a raft of government data over the weekend pointed to more signs of weakness in the Chinese economy.
Growth in both fixed-asset investment, up 10.9% in August from a year ago, and factory output, at 6.1%, came in below expectations.
The Shanghai Composite was down 3.2% to 3,097.71 – having lost nearly 40% since its peak in mid-June.
The Hang Seng was down 0.1% to 21,482, reports the BBC.
Shares of four of China’s largest brokerages tumbled as much as 7% after fines and penalties were imposed by the securities regulator for failing to conduct proper verification of clients.
The four brokers were fined 178.5m yuan ($28m) and had 62.4m yuan of profits confiscated, according to the securities filings by the companies.
Regulators have been cracking down on trading firms to stem the volatility that has rocked the markets for the past few months.