Everbright Securities head resigns amid probe of glitch

Trading of shares in company scheduled to resume on Friday

To nobody's surprise, Xu Minghao, president of the beleaguered China Everbright Securities Co Ltd, which roiled the nation's stock market last week with an erroneous 7.2 billion yuan ($1.17 billion) in buy orders, resigned on Thursday, leaving regulators with piles of questions to address.

In a statement to the Shanghai Stock Exchange, Everbright Securities said its board of directors accepted Xu's resignation, four days after regulators announced a probe into the company.