STORY CONTINUES BELOW THESE SALTWIRE VIDEOS - China is launching a campaign to revive a lagging stock market, and boost investor confidence in an ailing economy. A slew of measures announced over the weekend include slashing stamp duty, slowing the pace of initial public offerings and encouraging margin financing. China's blue chip CSI300 Index opened up more than 5% on Monday, but surrendered most of the gains to close just 1% up.
The CSRC said on Sunday that China would slow the pace of initial public offerings to promote a dynamic balance between capital raising and investing activities. Disappointing some market players, the CSRC kept in place a bar on traders buying and selling shares on the same day, arguing that it could drive speculation and harm small investors.MORE TO COME:
The regulator is working on optimizing rules covering share repurchases, including relaxing requirements when share prices tumble. Company share repurchases are considered a good sign by investors, as it implies the stock is undervalued.
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