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May 23, 2017

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Shares decline

SHANGHAI shares fell yesterday as tighter regulations to curb speculative investments hurt risk appetite.

The Shanghai Composite Index lost 0.48 percent to 3,075.68 points. Over the weekend, the China Securities Regulatory Commission meted out punishment to Sealand Securities after months of investigation into fake bond agreements. The brokerage will be banned from issuing asset management products, opening new accounts and underwriting bonds for a year. Investors turned cautious after the CSRC said it would further strengthen the supervision of brokerage and fund companies.



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