China plans to restrict stock sales by large shareholders once a ban imposed in July to stop a slide in prices is lifted this week.
Stockholders who own more than 5 per cent of a company will be required to sell shares through private transactions to "avoid shocks to the market," the China Securities Regulatory Commission said on its microblog. Regulators are winding down emergency measures imposed after China's main market index plunged more than 30 per cent in June.
The six-month ban imposed on sales by large shareholders expires tomorrow. Financial analysts have warned that would lead to a new round of selling and more volatility. Markets are jittery after the benchmark fell by nearly 7 per cent on Monday and trading was halted for the day.
The six-month ban imposed on sales by large shareholders expires tomorrow. Financial analysts have warned that would lead to a new round of selling and more volatility. Markets are jittery after the benchmark fell by nearly 7 per cent on Monday and trading was halted for the day.
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