Investor sentiment was also supported by new rules unveiled by regulators late on Friday to restrict "excessive" and "frequent" fundraising by some listed companies.
China`s blue-chip index posted its biggest daily gain in six months on Monday after media reports said pension funds may begin flowing into the country`s stock markets as early as this week.
Gains were led by consumer stocks and banks, which are expected to be among the key targets of funds managing long-term pension money.
Also on Friday, China unveiled rules to check "excessive" additional fundraising by companies, requiring a listed company`s private share placement plan must not exceed 20 percent of its share base.
Media reported on Friday that China had started investing an initial 360 billion yuan ($52.41 billion) in pension insurance funds from seven provinces and cities in financial markets.
0 comments:
Post a Comment