Shanghai shares bounce off seven-month lows |
| MarketWatch - Feb 26, 2008 |
Shanghai shares rebounded from seven-month lows to end higher Tuesday, regaining their footing as regulators called upon listed companies to take into account investor demand before raising fresh capital through new share sales.
In a statement issued late Monday -- after the Shanghai Composite index touched its lowest level since July 20 -- the China Securities Regulatory Commission urged listed firms to "carefully" consider their plans for raising capital as well as the market's ability to absorb additional equity, according to a Xinhua report.
The regulator's statement helped bolster investor sentiment and ease fears that the growing line-up of firms with plans afoot to raise additional funds would push stock prices lower, analysts said.
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- Posted: 2008-02-26 09:41:09
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