China’s Stock Broker Suspending Short-Selling Amid Market Turmoil

CITIC Securities Restricts Short-Selling Amid Local Market Chaos

CITIC Securities Co Ltd, China’s largest brokerage, has implemented restrictions on short-selling for some clients as local stock markets continue to face significant losses, according to Bloomberg. The state-owned asset manager has stopped lending stocks to individual investors and has also raised its requirements for institutional clients, following instructions from regulators. This move comes as Chinese stock markets extend their downward trend into the new year, with little improvement in economic growth. In 2023, the blue-chip index was one of the worst-performing global indexes.