China Steps In to Cool Stock Market Rally Amid Global Boom

It’s getting too hot in China’s stock market for officials’ comfort. Authorities just tightened rules on margin financing as they seek to cool investor fervor after a $1.2 trillion rally in the past month.

While the move was not a dramatic one, the intent was obvious. The CSI 300 Index erased an 1.2% advance to close 0.4% lower, while Chinese stocks traded in Hong Kong also briefly wiped out gains.