Locked shares worth over 240 bln yuan to become tradable

BEIJING, July 17 (Xinhua) -- Locked shares from 94 companies will become eligible for trade on China's bourses in the coming week.

Based on the latest closing prices, these shares are worth 243.35 billion yuan (36 billion U.S. dollars), the largest weekly figure this year, according to financial information provider Wind.

Under China's stock market rules, major shareholders must wait for one to two years before they are permitted to sell their shares.

Chinese stocks closed lower on Friday, with the benchmark Shanghai Composite Index down 1.64 percent to 3,228.06 points. The Shenzhen Component Index closed 1.52 percent lower at 12,411.01 points.