Losses from Chinese telco stocks just maxed out

Photo: Getty Images.

It’s been a terrible day for Chinese stocks, but for some sectors it’s been far worse.

On the benchmark Shanghai Composite index the telecommunications sector has fallen by 10%, the maximum daily loss allowed for Chinese markets.

With the sector limit down, this means every individual telecommunications stock listed on the index has also fallen by its maximum daily limit of 10%.

This gives new meaning to the term margin call.

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