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Lock-up shares worth 36.2 bln yuan to become tradable

Xinhua, January 10, 2016 Adjust font size:

Lock-up shares worth about 36.2 billion yuan (5.6 billion U.S. dollars) will become eligible for trade on China's stock market in the coming week.

Nearly 3.9 billion shares from 43 companies will become tradable on the Shanghai and Shenzhen stock exchanges from Monday to Friday, according to data released by brokerage Southwest Securities.

JYT Corporation, a leading manufacturer of solar and semiconductor equipment, will see the unlocking of more than 1.1 billion non-tradable shares on Monday, the largest volume to be released next week.

Under China's market rules, major shareholders of non-tradable stocks are subject to one or two years of lock-up before they are permitted to trade the shares.

About 68.1 percent of all the upcoming shares in terms of value will hit the market on Monday, putting some downward pressure on the market due to the increase in stock supply.

Stock trading was halted on Monday and Thursday after deep plunges triggered the circuit breaker in a tumultuous week.

Chinese shares rallied on Friday after the just-introduced mechanism was suspended. Endi