China's Speculative Stock Mania Over City Proves Fleeting: Chart

(Bloomberg) -- It was nice while it lasted. Some of the biggest stock gains spurred by China’s surprise announcement that it would build a new city in an economic backwater south of Beijing are unraveling. Surges by companies such as Hesteel Co. and China Fortune Land Development Co. were met with a tougher line on leveraged trading by the securities regulator and a warning by the Shanghai Stock Exchange that investors risked losses.