Editorial Summary

The Shanghai Composite Index fell 5.29% to close at 2,748.432 while the Shenzhen Composite Index sunk 6.02% to close at 795.86 on Friday. Trading volume on the Shanghai and Shenzhen Stock Exchanges reached RMB 61.719 billion and RMB 33.424 billion, respectively.

Deutsche Bank and Shanxi Securities have filed with the China Securities Regulatory Commission (CSRC) for Deutsche Bank to take a 33% stake in the Shanxi company, reports China Business Post quoting an unnamed insider.

The CSRC Issuance Examination Commission announced on Thursday that it will review Everbright Securities' listing application on June 30, reports Shanghai Securities News. Everbright Securities hopes to issue up to 520 million shares to raise capital for new business locations, expecting to reach a total of over 100, and investment and overseas business development.

Shares of Hongyuan Securities (000562.SZ), Sinolink Securities (600109.SH), CITIC Securities (600030.SH) and Changjiang Securities (000783.SZ) fell 10%, 9.31%, 8.33% and 8%, respectively, on Friday.