China stops large shareholders from cutting stakes in next 6 mths
[BEIJING] China's securities regulator ordered shareholders with stakes of more than 5 per cent from selling shares in the next six months in a bid to ease the pressure on its stock markets.
The China Securities Regulatory Commission said on its website late on Wednesday that it would deal severely with any shareholders who violate the rule.
The CSI300 index of the largest listed companies on the Shanghai and Shenzhen exchanges closed down 6.8 per cent on Wednesday, while the Shanghai Composite Index dropped 5.9 per cent.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Canada posts surprise trade deficit as gold exports fell in March
OECD upgrades global growth outlook as US outperforms
US weekly jobless claims unchanged; layoffs decline in April
US firms announce fewer new hires in April: Challenger report
Hong Kong growth beats forecast as recovery gains traction
If inflation continues to build, the Fed won’t be able to maintain neutral stance for long