HONG KONG: Chinese penny stocks slumped on Monday morning, as investors trimmed their exposure from a sector that has outperformed this year after China's securities regulator mapped out plans to reform the initial public offering process.
The brokerage sector rallied on hopes that offerings would resume in the new year after the China Securities Regulatory Commission predicted that about 50 companies will be ready to complete preparatory listing work by then.
Already a subscriber? Log in.
Get 30% off with our ads free Premium Plan!
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
