China Market Outlook
Lock-up shares worth 29.7 billion yuan about (4.65 billion US dollars) will become eligible for trade on China’s stock market next week.
About 2.69 billion shares from 29 companies will become tradable on the Shanghai and Shenzhen bourses. The value of these shares is more than the 28.8 billion yuan in shares unlocked this week, data from the Southwest Securities showed.
Pangda Automobile Trade Co. listed on the Shanghai Stock Exchange will see non-tradable shares worth around 5.78 billion yuan become tradable on Monday, the largest amount to hit the market, according to China’s (Xinhua) News Agency.
Under China’s market rules, major shareholders of non-tradable stocks are subject to one or two years of lock-up before they are permitted to trade.
Sentiment on the mainland was also hurt by Chinese stock regulator’s announcement over the weekend that it would raise margin finance requirements to reduce systemic risks.
Most sectors in China fell, but IT and telecommunications stocks rose. The tech-heavy start-up board ChiNext board also bucked the trend, rising nearly 1 percent.
Transportation stocks were among the hardest hit on Monday, with airline operators including China Eastern and Air China slumping amid concerns that the Paris attacks would deter people from travelling overseas.
In Hong Kong, shares fell across the board.
The post China Market Outlook appeared first on Live Trading News.