Posted 11/27/2023, 10:33:00 AM
Beijing Limits Major Shareholders from Selling Amid Rally, Part of Broader Efforts to Prop Up Shaky Market
- Beijing Stock Exchange stopping major shareholders from selling stocks to sustain market rally
- Sales blocked amid 46% surge in flagship index this month due to pro-market government measures
- Investors with over 5% stake must get approval before selling shares, but exchange rejecting requests
- Part of broader government efforts to shore up shaky equities market after struggles in 2023
- Not first authoritarian move to prop up stocks - man arrested for spreading rumors, economists told not to discuss economic weaknesses