Everbright hit by trading restriction

China has slapped restrictions on the number of new stock index futures positions that Everbright Securities can build after a glitch in the brokerage’s systems caused a brief spike in the country’s stock indexes last week. The surge created and then wiped out roughly $100bn (£64bn) worth of share value on the CSI300 Index, which tracks the largest listed firms in China, in the course of a single day.