Shares end lower as investors await IPOs
Print Edition
SHANGHAI stocks yesterday fell for a third straight day as investors took profits in anticipation of a new round of initial public offerings.
The Shanghai Composite Index lost 0.28 percent to 2,359.48 points.
Investors were making provisions for the coming IPOs after Southwest Securities estimated that more than 15 companies will be approved this week to launch their subscriptions.
According to the latest weekly statement from the China Securities Regulatory Commission on Saturday, 566 companies are now applying to launch IPOs, a big jump from the 430 on September 27.
Beijing Teamsun Technology fell 4.43 percent to end at 17.92 yuan (US$2.93), Aerospace Communications Holdings Group lost 3.07 percent to 18.97 yuan, and Datang Telecom Technology shed 2.29 percent to close at 17.47 yuan.
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