(Bloomberg) -- It was nice while it lasted. Some of the biggest stock gains spurred by China's surprise announcement that it would build a new city in an economic backwater south of Beijing are unraveling. Surges by companies such as Hesteel Co. and China Fortune Land Development Co. were met with a tougher line on leveraged trading by the securities regulator and a warning by the Shanghai Stock Exchange that investors risked losses.
To contact Bloomberg News staff for this story: Amanda Wang in Shanghai at twang234@bloomberg.net.
To contact the editors responsible for this story: Richard Frost at rfrost4@bloomberg.net, Ryan Lovdahl
With assistance from Amanda Wang
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