Shares fall on CSRC鈥檚 IPO move
Print Edition
SHANGHAI stocks edged down yesterday on profit-taking after the securities regulator decided it would approve two batches of initial public offering applications monthly.
The Shanghai Composite Index lost 0.47 percent to end at 4,393.69 points. For the week, the index gained above 2 percent.
The China Securities Regulatory Commission on Thursday approved the second batch of 25 IPO applications for this month, following its approval of the first group of 30 applications on April 2.
Two batches of IPO applications will be approved every month from now on, the CSRC said after trading closed on Thursday. The CSRC has already approved 123 IPOs this year.
Everbright Securities fell 6.11 percent to 35.36 yuan (US$5.71) and Huatai Securities lost 4.60 percent to 30.46 yuan. Industrial Securities declined 4.15 percent to 17.78 yuan and Merchants Securities shed 4.02 percent to close at 36.31 yuan.
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