The party in China's stock market really has come to an end, as margin debt outstanding on the Shanghai Stock Exchange falls to its lowest since December 5, 2014.
Margin lending, in which brokerages lend money to investors to play the markets, fell for a third straight day on Friday to Rmb579.2bn ($910m), reflecting a 62 per cent fall in leveraged trading since the June peak, writes Patrick McGee.
China's stock market enjoyed a spectacular run beginning last summer after Beijing mouthpieces encouraged people to invest in the stock market. Many saw the bet as a one-way move, so they borrowed funds at a record level to enhance returns.
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