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US-listed Chinese stocks in big selloff as Beijing vows to tighten market rules

Investing.com -- US-listed Chinese stocks suffered the biggest decline in more than a month Friday after policymakers in Beijing vowed to increase stock market supervision just as foreign investors continue to shy away from the world second-largest economy amid a bumpy economic recovery.

The NASDAQ Golden Dragon China Index of US-listed Chinese stocks, which include major Chinese tech giants such as Alibaba (NYSE:BABA), JD (NASDAQ:JD).com, Baidu (NASDAQ:BIDU), fell 4.6% on Friday, its biggest decline since March.

Policymakers in Beijing detailed new guidelines seeking to address stock-market volatility, including tighter supervision of companies looking to list in China.

Sentiment on Chinese stocks were further soured after two brokerages Citic Securities and Haitong Securities came under a regulatory probe for alleged law violations. 

The move to a less market friendly policy stance from Beijing comes at a time when foreign investors continue to head for the exits amid ongoing worries about China's recovery, rising geopolitical tensions and fears about a potential housing crisis.     

Economic worries were further exacerbated on Friday after the latest data showed that import and export activity in March fell well short of economists estimates. 

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.