Xunlei stocks fall after security warning

Shares of technology company Xunlei Ltd plunged 27.4 percent on Monday after the National Internet Finance Association of China said its token-based virtual currency, LinkToken, is a potentially high-risk model.

The association warned on Friday that the initial miner offering model (IMO), a new way to issue cryptocurrency, could have potential risks. It said the model, through which the LinkToken has been offered, "is essentially an activity of fundraising, and it is a form of disguised initial coin offering (ICO)".

"Consumers and investors should recognize the essence of this model, and to be more aware of investment risks," said a notice on the association's website.