China Tightens Rules on Securities Lending to Steady Tumbling Stock Markets
• Chinese regulators bar strategic investors from lending securities during restricted periods to stabilize markets • Comes after mainland China's stock markets saw sharp drops so far this year • Shanghai Composite Index down 7.5% from start of year as of January 22 • Shenzhen Stock Exchange fell 9.8% on January 22 compared to start of year • New rules include complete suspension of lending restricted stocks starting Monday and limiting securities lending efficiency from March 18