Regulator may step in to help stocks
18 August 2008
The China Securities Regulatory Commission (CSRC) said in a statement that it was concerned about falling Chinese stock prices and that it would work to stabilize the market, Reuters reported. The Shanghai Composite Index reached a 19-month low on Thursday and is down 60% from the record high reached in October. The market has ben hurt by inflation, slowing profit growth and a heavy influx of new equity. The CSRC said it would take measures such as being stricter about supervising share sales following the expiry of lockup periods from initial public offerings and reforms of state-owned enterprises, and paying attention to supply and demand when approving new share sales.