- Amid local news reports of a number of Chinese brokerages tightening margin requirements, the Shanghai Composite reversed a higher open to close lower by 4.05% overnight.
- The market there is up about 80% since November, so these sorts of short-term panics shouldn't be too surprising.
- Particularly hard hit were banking shares (NYSEARCA:CHIX), with China Construction Bank, Bank of China, and Bank of Communications each lower by about 5%.
- ETFs: FXI, ASHR, EWH, CAF, YINN, PGJ, GXC, FXP, YANG, PEK, MCHI, XPP, YAO, ASHS, YXI, CN, CHXF, FCA, CNXT, CHNA, EWHS, KBA, FCHI, FHK, AFTY