Chinese Small-Caps Plunge to Lowest Level in Over Two Years
- Shanghai Composite Index declines most in seven months
- Financial regulation conference, IPO pace spook investors
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Chinese small-cap shares tumbled, leading the market lower, amid concerns about tougher regulations and more initial public offerings following a high-level conference over the weekend attended by President Xi Jinping.
The ChiNext gauge of mostly technology companies sank 5.1 percent at the close to 1,656.43, the lowest level since January 2015. The Shanghai Composite Index dropped 1.4 percent, the most since December.