Date
24 October 2017

Shareholders up stake cuts in listed firms, paper says

Shareholders have offloaded stakes at a faster rate this month in companies listed in Shanghai and Shenzhen amid tighter market liquidity and an absence of new supportive policies, the China Securities Journal reported Monday, citing Wind Information Co. Ltd. Shareholders have dumped 1.01 billion shares worth 12.34 billion yuan (US$2.01 billion) in 217 companies since the start of the month. They increased their stakes in just 73 companies, buying 312 million shares worth 1.9 billion yuan, bringing the net stake cut to 10.4 billion, four times October’s figure, the report said. The stake cuts are expected to continue for the rest of the year, according to the report.

– Contact HKEJ at [email protected]

KZ/AC/SK

 

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