Everbright Securities Plunges on Record Penalty: Shanghai Mover
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Everbright Securities Co. plunged to the lowest since its shares started trading in 2009 after China’s securities regulator imposed a record penalty on the broker for insider trading and two more executives resigned.
The country’s seventh-largest brokerage by market value declined by the 10 percent daily limit to 9.06 yuan at today’s opening in Shanghai, after trade was suspended on Aug. 30, and stayed at that level through the 11:30 a.m. break. The Shanghai Composite Index fell 0.1 percent. The stock has slid 36 percent this year.