China Brokers Tumble as Citic Staff Detained, Rescue Costs Grow

Updated on
  • Four Citic executives made confessions, state news agency says
  • Brokerages said told to stump up another 100 billion yuan

China Markets End Volatile August in Continued Slide

China’s brokerages tumbled after four Citic Securities Co. executives were detained and people familiar with the matter said the industry was told to contribute another 100 billion yuan ($15.7 billion) to a stock market rescue fund.

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