Business & Finance
28 November 2023, 4:28 am 1 minute
Reuters exclusively reported that The Beijing Stock Exchange has de facto implemented a new policy that prevents major shareholders of companies listed on its bourse from selling stock, worried that such sales could douse a long-desired rally.
Market Impact
The Beijing bourse currently houses 232 companies with a combined market capitalisation of 366 billion yuan ($50 billion). By comparison, the Shanghai bourse is home to 2,256 firms worth 47 trillion yuan in total, while almost 3,000 companies listed in Shenzhen have a total market capitalisation of 31.9 trillion yuan. The Shanghai Composite Index (.SSEC) is up 0.4% this month, while the Shenzhen Composite Index (.SZI) is down 0.8%.
Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Business & FinanceFinancial Services
Regions: Asia
Countries: China
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Customer Impact: Significant National Story
Credit
1: https://www.reutersagency.com/en/reutersbest/article/beijing-bourse-tells-major-shareholders-to-refrain-from-selling/
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