Strategic investors won’t be allowed to lend out shares during agreed lock-up periods, the Shanghai Stock Exchange and Shenzhen Stock Exchange said in separate releases following the China Securities Regulatory Commission’s statement.
Investors started selling out in 2021, when China s private sector crackdown went into full gear. Covid Zero restrictions further worsened sentiment toward the market. Stocks staged a strong rebound through late 2022-early 2023 as China reopened its economy, but the optimism has all but evaporated.
The 44-year-old mogul still has a sizeable net worth of $9.3 billion, but he is having trouble convincing investors skeptical of the firm’s future outlook.
MSCI s broadest index of Asia-Pacific shares outside Japan was 0.28% lower at 473.37, having touched 472.73 - the lowest since November 2022. The index is down 3% for the month and set for its third consecutive month in the red. Japan s Nikkei fell nearly 1%.
Markets appeared to have recovered, for the moment, even as Israel was preparing for a likely ground offensive into Gaza and fears deepened that the conflict could spread along Israel's border with Lebanon.
Equities in Australia rallied the most in two weeks while Japanese and Korean shares also climbed. Futures in Hong Kong advanced and contracts for US stocks rose following gains on the S&P 500 and Nasdaq 100 on Thursday as retail sales and producer prices beat estimates.