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Stock sale ban draws scorn from money managers

Move just another market intervention step and won't restore investor confidence, they say

China has imposed a six-month stock sale moratorium on substantial shareholders and company directors and executives, a move seen by Templeton chairman Mark Mobius as a sign of desperation.

New York

TEMPLETON Emerging Markets Group calls it an act of "desperation". UBS Wealth Management labels it "extreme". And Wells Fargo Funds Management says it just "postpones the inevitable". China's decision to ban major stockholders from selling stakes in listed companies has drawn