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China Brokerage Probe Worsens Weekly Selloff in Emerging Markets

  • Lira fell most since March this week on Russia jet tension
  • China brokerages slump on official probe into market rout
Updated on

A weekly selloff in emerging-market assets worsened as Chinese brokerages disclosed regulatory probes that sent shares tumbling. Turkey’s lira posted the biggest weekly decline since March as Russia began retaliating for the downing of a warplane.

Chinese equities slid the most since August and the yuan fell as brokerages revealed they were being investigated for violating rules and data showed industrial profits tumbled. Citic Securities Co. declined 10 percent in Shanghai. The lira depreciated 3.3 percent in the five days through Friday, while Russia’s ruble weakened 2.6 percent. Turkish shares, which rose on Friday, fell the most worldwide this week as Moscow imposed additional border checks on imports from its seventh-biggest trading partner.