China’s Stocks Plunge in Volatile Trading as Margin Debt Drops
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China’s stocks slumped in volatile trading, led by technology companies, after traders sold shares purchased with borrowed money for a third day.
The Shanghai Composite Index slid as much as 4.4 percent in the last hour of trading, sending a gauge of 30-day volatility to a seven-year high. All 10 industry groups in the CSI 300 Index dropped, with a sub-index of technology companies plunging 6.3 percent for the biggest loss. Beijing Shiji Information Technology Co. and Hundsun Technologies Inc. both fell by the 10 percent daily limit.