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Shanghai B-shares Surge 9.9 Percent After Opening to Local Investors
Shanghai B-shares surged 9.9 percent Wednesday after the market legally opened to local investors for the first time, dealers said.
All shares rose by their maximum allowed limit of ten or five percent while turnover remained extremely thin. Existing B-share holders were reluctant to sell because of expectations of further gains in upcoming sessions, they added.
The Shanghai Stock Exchange's B-share index added 8.22 points to 91.42 on turnover of 6.2 million yuan (US$745,770).
Meanwhile the A-share index edged down 5.5 points or 0.3 percent to 2,069.56 on turnover of 6.86 billion yuan (US$828 million).
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