Chinese stock market has come back to normalcy: regulator

Source:Global Times Published: 2020/2/15 13:02:26

Investors at a stock exchange in Nanjing, capital of East China's Jiangsu Province. Photo: VCG

China's Securities Regulatory Commission said on Saturday that the country’s A-share market has withstood the assault of novel coronavirus pneumonia (COVID19), and the equities trading has basically come back to its normalcy now. 

Yan Qingmin, vice chairman of CSRC, said the market’s self-adjustment ability has functioned well since the market’s reopening amid worries that the sudden outbreak of the viral disease would put an abrupt end to a stock rally unseen for years in the Chinese stock market. 

The flagship Shanghai Composite Index closed 0.38 percent higher on Friday at 2,917.01 points. 

The index has jumped by 8.7 percent from a multi-month-low of 2,685.27 points on February 4, the day after the Chinese stock market reopened after the Chinese Lunar New Year holiday when the whole world witnessed and were unnerved by a fast onslaught of the epidemic.

The securities regulator said it has fast-tracked corporate bond issuance for companies from epidemic-hit Hubei Province, and three major companies registered in the province have issued bonds valued at 2.8 billion yuan ($400 million) via a green channel as of Friday. 

A total of 10 bonds and one asset-back securitization product were issued, raising 11.23 billion yuan, according to Yan, adding that some of the funds raised will be used to combat the COVID-19 disease.

The regulator has also exempted Hubei listed companies and futures companies from annual fees to support these enterprises better weather the virus attack. 

Global Times

Posted in: MARKETS

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