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Asia Markets: China stocks fall after increased banking scrutiny; Nikkei flat

Increased regulatory scrutiny over the borrowings of China’s most prolific overseas deal makers weighed on mainland markets Friday, as trading elsewhere in the Asia-Pacific region was lackluster.

The Shanghai Composite Index SHCOMP, -0.71% pared earlier losses but was recently down 0.2%, following news that the nation’s banking regulator ordered banks to check the borrowings of major Chinese conglomerates like Anbang Insurance Group and Dalian Wanda Group.

The move, which sent shares of the companies’ listed units tumbling late Thursday, hurt investor sentiment due to concerns about tighter regulations across China’s financial markets at a time of volatile trading, analysts say.

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