From Reuters:

A pedestrian looks at an electronic board showing the graph of the recent fluctuations of market indices of ,Japan’s Nikkei average, Dow Jones and NASDAQ outside a brokerage in Tokyo, Japan, September 9, 2015. Reuters/Yuya Shino

Chinese shares slumped 5 percent on Friday, hit by regulatory and industrial sector worries, though it wasn’t enough to derail the first weekly rise for metals like copper and zinc since early October.

The Shanghai Composite index .SSEC and the CSI300 .CSI300 both saw their biggest one-day drops in more than three months and ensured it was set to be a subdued post- Thanksgiving session for Wall Street.

Europe had a flat feel too. Britain’s FTSE 100 .FTSE was down 0.2 percent by 1230 GMT though 0.2 percent gains for France’s CAC40 .FCHI and Germany’s DAX .GDAXI left the pan-regional FTSEurofirst 300 heading for a token weekly gains.

“There is clearly a risk that China will try and devalue the currency further,” said Ankit Gheedia, equity and derivative strategist at BNP Paribas.

“(However) Europe is still trading on the ECB next week, which is why the market is relatively resilient,” he said referring to expectations of another round of stimulus.

The intensive selling in China had come amid signs its securities regulator was making a fresh clampdown on leveraged buying and combined with data showing a 4.6 percent drop in profits among big industrial firms.

The mining industry was the laggard with profits down 56.3 percent in the first 10…

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