FXStreet (Mumbai) – Most Chinese indices ended higher on Tuesday; with the Shanghai benchmark posting steep gains after Chinese regulators announced new measures to curb high volatility on the market.
Late on Monday, Shanghai and Shenzhen exchanges announced new rules under which short sellers have to wait at least one day to cover their positions and pay back loans used to buy shares.
Previously, traders could cover their positions within the same day, contributed to “abnormal volatility of stock prices,” according to regulators.
The Shanghai Composite Index (SSEC) closed the session with a 3.69% gain at 3,756.54, while the Hang Seng index settled flat at 24,406.
SSEC Technical Levels
The index has an immediate resistance at 3792 and 3844 levels. Meanwhile, support stands at 3685 below which doors could open for 3602 levels.
(Market News Provided by FXstreet)