AsianFin -- China’s $1 trillion equities rally is drawing pushback from brokers and fund managers, who are moving to rein in risks by tightening financing and capping purchases.

Shanghai-based Sinolink Securities Co. has lifted the margin deposit ratio on new financing contracts for certain securities back to 100%, according to a notice on its website. Beijing had previously lowered the ratio to 80% in September 2023 to support market liquidity.

At the same time, several mutual fund firms have introduced daily buying limits on top-performing products. On Wednesday, the feeder fund of the GF Star Growth Index ETF restricted new purchases to just 100 yuan ($14) — among the most stringent curbs imposed during the rally.