Chinese shares close lower as stock regulator investigated

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Chinese share prices ended lower on Thursday, continuing months of volatility on the mainland’s biggest exchange.

The benchmark Shanghai Composite Index closed down 2.10 per cent Thursday, after closing up 4.89 per cent Wednesday following a late afternoon rally.

Shares traded flat most of the day Wednesday before plunging in the final 30 minutes of the session.

The smaller Shenzhen Component Index dropped 1.52 per cent Thursday, while the ChiNext Index, which tracks tech and other growth companies, gained 0.37 per cent.

China’s anti-corruption agency announced late Wednesday it was investigating the deputy head of the country’s stock regulator.

Zhang Yujun, assistant chairman of China Securities Regulatory Commission, is being investigated for “severe disciplinary violations,” the Central Commission for Discipline Inspection (CCDI) said on its website.

A series of official measures aimed at stabilizing prices and reassuring investors about the strength of the Chinese economy have failed to stop high volatility in the Chinese financial markets.

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