Concerned investors hit shares
Print Edition
SHANGHAI stocks dipped yesterday as investors continued to worry about liquidity and China’s economic growth.
The Shanghai Composite Index lost 0.24 percent to 2,041.71 points. For the week, the index shed 0.29 percent.
“Rising funding costs at the end of this quarter, risks of credit defaults and the looming resumption of initial public offerings are major concerns for the market,” Shenyin & Wanguo Securities said yesterday.
The China Securities Regulatory Commission said on Thursday that companies seeking to go public are free to choose either domestic exchange to list, regardless of the size of their IPOs.
CITIC Securities said the new rule aims to channel some of the IPO applicants to list on the Shanghai bourse.
Jiangsu Zhongtian Technology Co shed 6.8 percent to 11.72 yuan (US$1.89). Yonyou Software Co fell by the 10 percent daily limit to 17.28 yuan.
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