China's stock market plunged on Friday after several brokerage firms said they were being investigated by regulators over securities violations.
The Shanghai Composite Index fell by as much as 6.14pc to 3,412.43, while the Shenzhen composite, which tracks stocks on China's second exchange, tumbled 6.66pc, to 2,170.73.
Citic Securities and Guosen Securities plunged by the daily limit of 10pc in Shanghai after admitting they were under investigation for alleged rule violations.
Reports in the media suggested Haitong Securities was also being probed as the shares were suspended on Friday.
The probes by China's Securities Regulatory Commission (CSRC) form part of a widening anti-corruption campaign as the country investigates this year's stock-market rout.
Earlier this week, Citic Securities, the country's largest broker, said it was being investigated over violations, following inquiries into several of its executives for insider trading. Another, Guotai Junan, announced on Monday that it had lost contact with its chairman.
Stocks have also come under pressure from concerns about many companies' ability to repay their debts.
Several Chinese corporates have defaulted on yuan-denominated bonds this year, while state-owned steel trader Sinosteel postponed a bond payment for a second time last week.
Experts have called time on China's three-decade growth miracle, as the economy makes the delicate transition towards domestic consumption from investment-led growth. Official figures show growth fell to a six-year low of 6.9pc in the third quarter.
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