Chinese shares jumped on Tuesday as the country's securities regulator is reportedly delaying massive resumption of initial public offering, easing investors' concerns over market liquidity. The benchmark Shanghai Composite Index rose 1.95 percent, or 39.11 points, to end at 2,043.88, and the Shenzhen Component Index jumped 3.64 percent, or 279.48 points, to 7,963.7.
An IPO relating to more than 80 authorized enterprises was expected to be launched before the end of July. However, it has been delayed as some firms have been asked by China's securities regulator to submit recen financial data The delay helped boost trading Tuesday.
An IPO relating to more than 80 authorized enterprises was expected to be launched before the end of July. However, it has been delayed as some firms have been asked by China's securities regulator to submit recen financial data The delay helped boost trading Tuesday.
The government started regulatory campaigns against the rare earth industry, which stimulated the non-ferrous metal sector up 3.34 percent with two shares hitting the daily increase limit of 10 percent.
The railway sector also surged as an investment scheme is expected to be submitted to the State Council, China's cabinet, in September in order to maintain the steady development of the industry. The shares of China Railway Group Limited, the country's largest construction giant, went up 5.16 percent to 2.65 yuan per share.
Source: Xinhua
