The New York Times reports the US government is considering imposing political tests on billions of dollars in federal grants.

Since May, Chinese regulators have issued a wave of administrative penalties against securities firms for weak branch management and lapses in investment-banking duties. Choice data showed that as of May 31 China International Capital Co, SDIC Securities, Zheshang Securities and others were sanctioned for brokerage violations, underwriting negligence, inadequate overseas-subsidiary controls and employees’ unauthorized moonlighting. Market observers say enforcement is moving from business-level compliance toward deeper company governance, with branch control and employee conduct management emerging as key compliance shortfalls.

IBM(IBM.N)盘前跌幅收窄至2.1%。