New rules dent share sales
Print Edition
SHARE sales by Chinese major shareholders shrank sharply over the past several trading days, pointing to the effect of tightened rules aimed at limiting massive dumping of holdings and bolstering the market.
The average daily share sales volume by major shareholders, supervisors and management at the Shanghai Stock Exchange fell to 190 million yuan (US$28 million) on the secondary market to retail investors during the three trading days ending Friday, down 67 percent from the daily average over the period from January 1 to May 26, the last trading day before the new rules were released, according to the latest data from the bourse.
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