Shares end flat on liquidity worries from IPOs
Print Edition
SHANGHAI stocks ended flat yesterday as new initial public offerings sparked worries about liquidity in the market.
The benchmark Shanghai Composite Index added just 0.03 percent to 3,351.45 points.
The China Securities Regulatory Commission has approved IPO applications from 20 companies, 17 of which will open for subscriptions in the Shanghai and Shenzhen markets next week.
This first round of IPOs in 2015 also concluded the CSRC’s plan in June to allow 100 IPOs within six months.
Shippers rode the high waves from the Ministry of Transport’s notice on Monday to quicken the development of modern shipping services by 2020.
China Merchants Energy Shipping rose by the daily 10 percent limit to 7.25 yuan (US$1.17), and China COSCO Holdings added 5.72 percent to 7.95 yuan. China Shipping Container Lines jumped 4.49 percent to 5.35 yuan, and China Shipping Development gained 4.32 percent to 9.89 yuan.
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