China stocks gain as securities regulator clarifies concerns over delisting rules


HONG KONG: Chinese stocks rose on Wednesday, as the nation's top securities regulator clarified the new delisting rules to calm the market panic following a sell-off in small-cap shares. Hong Kong stocks edged down.

The China Securities Regulatory Commission (CSRC) said late Tuesday that tighter rules would not spark a wave of delistings.

The regulator also refuted the view that latest delisting rules would hit small caps, saying that only about 30 companies would be delisted next year under the new regulation.

China's small-cap CSI 2000 INDEX surged 5.5% by midday to lead the gains.

Meanwhile, UBS upgraded 2024 real GDP growth forecast to 4.9% from 4.6% on Wednesday, due to the better first quarter economic data and stronger export outlook. - Reuters

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

   

Next In Business News

Singapore April core inflation at 3.1% y/y, matching forecasts
Asia stocks ease as central banks play game of patience
Nationgate shares to transfer to Main Market on May 24
Zantat aims to expand bioplastic product line
Sime Darby's industrial division drives 3Q net profit to RM340mil
MSM Malaysia registers 1Q net profit of RM41.71mil on improved margins
FBM KLCI maintains positive sentiment despite US rate jitters
SME Corp targets six MSMEs to be listed on Bursa Malaysia by 2026
MoF wants new LEAP Market measures to be ready by early next year
Vibrant semiconductor industry fortifies Malaysia's role as reliable regional partner - PM

Others Also Read