Reg­u­la­tor to man­age IPO pace

China Daily (Canada) - - NEWS CAPSULE -

The Chi­nese se­cu­ri­ties reg­u­la­tor said that it will “ap­pro­pri­ately man­age” the pace of new share sales to sta­bi­lize in­vestors’ an­tic­i­pa­tion, un­der­scor­ing the reg­u­la­tor’s de­sire to con­tain more fluc­tu­a­tions af­ter the mar­ket re­bounded.

The reg­u­la­tor’s state­ment came af­ter the bench­mark Shang­hai Com­pos­ite In­dex suf­fered a 10 per­cent loss in a week, with mar­ket shut­downs on Jan 4 and Jan 7 trig­gered by the cir­cuit-breaker mech­a­nism. On Jan 8, the bench­mark Shang­hai in­dex surged by 1.97 per­cent af­ter the se­cu­ri­ties au­thor­i­ties sus­pended the mech­a­nism the night be­fore. The mech­a­nism was blamed for wors­en­ing liq­uid­ity crunch in the mar­ket.

Deng Ge, the spokesman for the China Se­cu­ri­ties Reg­u­la­tory Com­mis­sion, said at a news con­fer­ence that the reg­u­la­tor will ap­pro­pri­ately ar­range the new share sales based on the prin­ci­ple of en­hanc­ing trad­ing vi­tal­ity and sta­bi­liz­ing the mar­ket.

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