China stocks end lower after regulators tighten margin rule to cool rally

SHANGHAI, Jan 14 (Reuters) - Mainland China stock benchmarks ended lower on Wednesday after regulators tightened margin requirements in a surprise move to cool a red-hot share market, despite turnover hitting a record high.

At the close, the benchmark Shanghai Composite index .SSEC was down 0.31%, while the blue-chip CSI300 index .CSI300 lost 0.4%. Onshore stock turnover hit a record 3.94 trillion yuan.

Shanghai, Shenzhen and Beijing bourses said in separate statements that they would raise the minimum margin requirement for new borrowings to 100% from 80%, effective January 19.

"This move removes speculative excess, but does not necessarily signal a market peak - better seen as prudent sentiment management amid a bullish tape," said Wee Khoon Chong, APAC macro strategist at BNY.

Earlier in the session, China reported a strong export run in 2025 with a record trillion-dollar surplus, sending the Shanghai stock benchmark .SSEC to its highest level in 10-1/2 years at one point.

U.S. on Tuesday formally greenlit China-bound sales of Nvidia's NVDA.O H200 chips, its second-most powerful artificial intelligence chip, despite deep concerns among China hawks in Washington.

However, Chinese customs authorities told customs agents this week that the H200 chips are not permitted to enter China, sources told Reuters. A sub-index tracking the AI sector .CSI930713 still closed 2.16% higher.

Property shares were among the main drags of the market, with a sub-index tracking the sector .CSI000952 falling 2.61%.

In Hong Kong, the benchmark Hang Seng Index .HSI rose 0.56%, while the city's tech shares .HSTECH inched up 0.66%.

Separately, market participants look to China's December credit lending data due later this week for more clues on the health of the economy.