Friday, September 29

China stock exchanges publish rules for convertible bond trading

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SHANGHAI — China’s Shanghai and Shenzhen stock exchanges published rules on Friday to discourage speculation in convertible bonds.

The two exchanges said in statements that investors participating in the market should have at least two years of experience in securities trading and hold average daily capital in their accounts of at least 100 thousand yuan ($14,920).

Shenzhen Stock Exchange also it will limit daily price movements to within 20% from the second day a convertible bond is listed.

($1 = 6.7023 Chinese yuan renminbi) (Reporting by Shanghai Newsroom)