Investor worries over ban expiry hit shares
Print Edition
SHANGHAI stocks declined yesterday for a second consecutive day as investors became worried that a ban on selling of shares by major stakeholders expires today.
The Shanghai Composite Index shrank 1.38 percent to 3,008.42 points.
Market sentiment was dented by concerns that a three-month ban imposed by the China Securities Regulatory Commission on January 9 on major stakeholders from selling shares expires today.
Investor worries that the expiry of the ban would lead to selling pressure from major stakeholders clouded the market during the whole trading day.
Nuclear and power company shares suffered the greatest slump yesterday, with China First Heavy Industries shedding 2.55 percent to finish at 6.11 yuan and Shanghai Electric Group Co declining 2.27 percent to close at 9.04 yuan.
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