China to restrict stock index futures trading to curb speculation: exchange

China will restrict trading in stock index futures in a bid to curb speculation, according to an exchange statement, after the futures contracts slumped by their 10 per cent daily limit for two consecutive days.

PHOTO: AFP

AUG 26, 20159:13 AM

[SHANGHAI] China will restrict trading in stock index futures in a bid to curb speculation, according to an exchange statement, after the futures contracts slumped by their 10 per cent daily limit for two consecutive days.

China Financial Futures Exchange announced a series of measures late on Tuesday, including raising margin requirements for index futures trading, restricting daily open positions and including transaction fees.

The measures will take effect on Wednesday, it said.

REUTERS