Chinese authorities are limiting the number of securities accounts local investors can own, in a move that signals a continued cautious stance toward the domestic stock market, which crashed last year, The Wall Street Journal reports. Individuals will only be able to own three accounts in a single mainland market, down from 20 previously, according to a statement on the website of the China Securities Depository and Clearing Corp. Investors who already own more than three accounts can keep the accounts if they are being used. In China, retail investors dominate the market, unlike in the US. Nearly a third of local investors fled the Chinese stock market during some of the worst days of losses in the summer of 2015, wiping away trillions of US dollars in value.
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