Mainland Chinese A-shares saw their biggest loss of the year Monday, with the Shanghai Composite falling as far as 1.9%, before closing down 1.4%, reports Seeking Alpha.
The decline Monday came after an announcement late on Friday that the country’s banking regulator will strengthen a crackdown on irregularities in the financial sector.
Earlier this month, China’s top anti-graft body announced it had launched an investigation into the nation’s chief insurance regulator, Xiang Junbo.