Chinese shares tumbled more than 5 percent on Friday Kyle Schwarber Cubs Jersey , the biggest one-day fall in nearly three months, as news of investigations into major brokerage houses triggered widespread panic.
The Shanghai Composite Index slipped 5.48 percent to 3,436.3 points on Friday Yu Darvish Cubs Jersey , while the Shenzhen Component Index fell 6.31 percent to close at 11,961.7 points.
About 300 stocks slumped to their daily trading limit of 10 percent on Friday. Brokerages led the diving, with the sector plunging about 9.5 percent.
One of the catalysts for Friday's stock plunge was the government investigations into several domestic securities firms Javier Baez Cubs Jersey , Li Daxiao, director of the Shenzhen-based Yingda Securities, told the Global Times.
On Thursday night Ryne Sandberg Cubs Jersey , two securities firms, CITIC Securities and Guosen Securities, released statements that they were under investigations by the China Securities Regulatory Commission (CSRC). Both companies saw their stocks plunge to their daily trading limit on Friday.
Haitong Securities also released a statement on Friday Ernie Banks Cubs Jersey , saying that it received an investigation notice from the CSRC on Thursday. Stocks of the company were also suspended on Friday both in Shanghai and Hong Kong.
According to the statement, the company's shares would restart trading on Monday.
Yu Fenghui, a financial commentator Ron Santo Cubs Jersey , told the Global Times that the government did the right thing to tighten management on domestic brokerages.
"China's stock markets have been significantly overvalued, and domestic brokerages have been a major pusher. If the government does not step in with regulatory measures, the stock bubble would grow even bigger and might even trigger systematic risks in the future Andre Dawson Cubs Jersey ," he said.
But Li said that domestic investors "overreacted" on Friday.
"The fact that those securities firms are being investigated does not necessarily mean they have any serious problems," Li noted.
Other factors, including the CSRC's ending of securities firms' revenue swap business as a way of cracking down upon margin trading and the restart of a new wave of IPOs in next week David Ross Cubs Jersey , also led to the stock plunge, Li noted.
Yu argued the most fundamental reason for the stock plunge is that the real economy is facing downward pressure.
Data from the National Bureau of Statistics showed on Friday that major industrial enterprises in China saw their profits slump by 2 percent year-on-year from January to October.
By Oliver Trust and Spencer Musick
BERLIN, Oct. 25 (Xinhua) -- For a football star with the profile of Thomas Mueller, something as simple as the act of walking around in public without being recognized can seem a farfetched dream, but in a recent interview with Xinhua, Meuller says that his main focus has always been the game, and that he is willing to accept the recognition that comes along with playing on at such a high level.
"I'm not complaining, I'm a football professional and maybe my face is well known. I can't blame people for recognizing me...my club Bayern Munich and the German national team are too big and well known worldwide," Meuller said.
And the key to performing consistently, Meuller says, is all about approaching the game with a positive attitude. The German explains that he is "convinced having a good mentality is a vital part of being a professional footballer."
Mueller also notes that his Bayern Munich side is in a period of transition with the arrival of new coach Carlo Ancellotti, and says that as "in any other company, a change takes time."
"For three years, we had a coach who was fond of every little detail and gave detailed instructions. A new coach then implements new ideas which have been very successful and still can be successful. Considering that it's a normal process that you as a team in the beginning still feel a lot of the former game and methods are within you," he said.
And although his reputation on the pitch is that of a space-maker who positions himself well into the opponent's penalty area, Meuller cautions against reading too much into this tendency.
"You should not see things too mystically," Meuller says. His aim is simply to deliver what his team has come to expect of him.
"There are some spaces in football that can turn into more dangerous spaces on the pitch than others. It might be the spaces for running at the opponents at the right time. Being in the right place has been one of my focuses for a long time," Meuller explained.
Indeed, Meuller does not see himself as a particularly outlandish player, and says that if anything is exceptional about him, it is the sum of his parts rather than his excelling at any one particular skill on the pitch.
"Perhaps the only thing that might be sort of unusual is the complete package Thomas Mueller, meaning each individual skill is nothing out of the ordinary. For instance, when dribbling, I'm not a world leader, there are strikers that are faster and they shoot more powerfully," he noted.
Nor does Mueller see himself or his playing style as particularly hard to understand. His success on the pitch is about his mastery of the fundamentals and his ability to think on his feet.
"I don't see myself as mysterious. I see myself as somebody that can react quickly, is more or less intelligent and talented when it comes to the basics of football."
So any talk about 'his secret' seems to be an anathema to Meuller. He concludes that it is all about an awareness of what his own abilities are, his willingness to persevere, and an understanding of his team.
"There's no secret about me and my game. It's just being in the right spot, mental endurance and strength, trust in my abilities and understanding of what the team needs."