Wednesday, 8 July 2015

China bans big shareholders from cutting stakes for 6 mnths

The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 2 percent in early trading, while the Shanghai Composite Index gained 1 percent. Both had tumbled around 6-7 percent on Wednesday. More than 30 percent has been knocked off the value of Chinese shares since mid-June, and for some global investors the fear that China's market turmoil will destabilise the financial system is now a bigger risk than the crisis in Greece. Indeed, the Obama administration is worried the stock market crash could get in the way of Beijing's economic reform agenda.

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