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China to enable short sales
Published on: 2008-10-07
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China's securities regulator said it would soon launch a trial program to enable securities firms to sell stocks short - to bet that they'll decline - and lend margin, or credit, for trading. A statement by the China Securities Regulatory Commission said the program would begin soon, although no specific date was given. Securities houses allowed to participate would be selected based on the size of their net capital, ability to tolerate risk, and other criteria, the reports said. The measures are seen as part of China's efforts to modernize its financial markets and aren't connected to recent turmoil on global credit markets. A Wall Street Journal report noted that right now investors can protect themselves from declines only by selling shares and exiting the market.
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