China Stock Sellers Frozen Out of 71% of Market
Is China Having a Crisis of Legitimacy Over Markets?
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Investors trying to sell Chinese shares have found themselves locked out of 72 percent of the market.
At least 1,331 companies have halted trading on mainland exchanges, freezing $2.6 trillion of shares, or about 40 percent of the country’s market capitalization. Another 747 fell by the 10 percent daily limit on Wednesday, making it all but impossible to find buyers at the prevailing price.