Yesterday is the first opening day after lunar new year. Shanghai composite index's closing quotation was 3140.17points, downed 19 points, declined 0.60%, Shengzhen component index's closing quotation was 10004.84 points, downed 47.21points, declined 0.47%. Two Stock markets' performance were pretty ordinary.
Ahead of the lunar new year , China's insurance regulator at 25 announced a ban on insurers acquiring listed firms in concert with non- insurance parties. It means that according to new rules at the China Insurance Regulatory Commission, a purchase of at least 20 percent of Stock in a listed company by an insurer will be cosidered a major investment in the future.
The cause was the adopted by the insurace units of Baoneng in its takeover bid for Vanke. The new rules will be limited and lowered investment in Stock markets, which is not good news for share holders.
Just private opinions.
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