At least 10 Chinese companies said their controlling shareholders or senior executives would not sell shares on the secondary market within the next six or 12 months, in an attempt to prop up China's stock market after a 7% plunge.
The market slump on Monday was partly triggered by fears that a six-month ban on share sales by listed companies' major shareholders, imposed during the height of a market rout last year, will expire on Jan 8, unlocking an estimated 1.24 trillion yuan (us$190.23 billion) worth of shares.
Zhejiang Century Huatong Group Co Ltd, a Chinese maker of plastic spare parts for automobiles, was the first company to announce a voluntary extension of the ban.
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The market slump on Monday was partly triggered by fears that a six-month ban on share sales by listed companies' major shareholders, imposed during the height of a market rout last year, will expire on Jan 8, unlocking an estimated 1.24 trillion yuan (us$190.23 billion) worth of shares.
Zhejiang Century Huatong Group Co Ltd, a Chinese maker of plastic spare parts for automobiles, was the first company to announce a voluntary extension of the ban.
For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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