The Shenzhen Stock Exchange has introduced a new rule aimed at controlling speculative trading of debuting stocks on the soon-to-be launched Growth Enterprise Market, the South China Morning Post reported. According to the new rule, a stock will be suspended from trading until 2:57pm, three minutes before closing, if its shares rise or fall 80% from the opening price on first day of trading. Trading will be suspended for 30 minutes if a newly listed stock gains or loses more than 20% from the opening price and the exchange will halt trading for a further 30 minutes if the shares rise or fall 50%. The securities regulator is due to officially launch the Nasdaq-style exchange in October.
You must log in to post a comment.
Yes, I would like to receive emails from China Economic Review. (You can unsubscribe anytime)
Copyright © 2018 SinoMedia Group Limited All rights reserved