From Reuters:
The Shanghai and Shenzhen exchanges said in separate statements on Monday night that the rules, effective immediately, would prevent traders from borrowing and repaying stocks within a day.
China’s exchanges and markets watchdog are cracking down on short-selling as part of a broad government-orchestrated effort to prevent a collapse in its markets, which have already lost about 30 per cent of their value since peaking in June.
“This is apparently aimed at increasing the cost of shorting and easing selling pressure on the market,” said Samuel Chien, a partner of Shanghai-based hedge fund manager BoomTrend Investment Management Co.
Pack your bags, Adam Carr. Your heaven has arrived. Not helping much today:
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