The Shanghai Composite Index (SCI) closed at a three-week high Thursday after state-owned firms bought back shares of their listed subsidiaries, the Financial Times reported. The SCI ended the day up 3.6%, to close at 2,297.501. On Sunday, regulators moved to encourage state-owned firms to buy back shares to help prop up the market. That was […]
Category: Banking & Finance
The State Council has approved plans by the China Securities Regulatory Commission (CSRC) for short selling and margin lending to help develop the domestic stock market, Bloomberg reported, citing an official familiar with the plan. The plan, whose approval comes as domestic share prices and trading volumes have fallen, is in contrast to moves by US […]
The China Securities Regulatory Commission (CSRC) has resumed preparations to introduce margin lending and short selling for mainland stocks in an effort to bolster the A-share market, the South China Morning Post reported. The Shanghai and Shenzhen bourses have been asked to provide detailed plans for the derivative products, which allow investors to borrow from brokers […]
TCL Corp, China’s largest consumer electronics maker, has cut the target for its upcoming share sale by US$44 million, saying that it already had enough cash for a planned rights issue of its television arm, TCL Multimedia, the South China Morning Post reported. In stating its decision to cancel part of its fund-raising plan, the Shenzhen-listed […]
The benchmark Shanghai Composite Index (SCI) fell by 1.6% to 2,201.51 on Tuesday after climbing about 18% in its first two sessions after Beijing announced measures to support flagging bourses last week, the Wall Street Journal reported. The government last week enacted measures to shore up economic growth and boost markets, including the elimination of a tax […]