China will likely allow some of the world's top 500 companies to float shares in its A-share market as it prepares the launch of an international board in Shanghai, Chinese media reported on Tuesday.
Stocks on the Chinese mainland fell for a third day on Tuesday. The retreat came on concern that government measures to tame inflation are slowing earnings growth as China Life Insurance Co and Datong Coal Mine reported declines in first-quarter profit.
Hong Kong stocks lost 130.93 points, or 0.54 percent, to close at 24,007.38 Tuesday.
China's stock index futures closed lower Tuesday with the contract for May, the most actively traded, down 0.38 percent from the previous trading day to 3,252.8.
The ChiNext Index, launched by the Shenzhen Stock Exchange (SZSE) on June 1, 2010, fell 1.73 percent, or 16.88 points, to 958.29 Tuesday.
Chinese shares closed lower Tuesday with the benchmark Shanghai Composite Index down 25.97 points, or 0.88 percent, to 2,938.98.
Stocks on the Chinese mainland fell on Monday, driving the benchmark index to the lowest level this month, as higher oil prices boosted concerns inflation will accelerate and spur more policy tightening measures.
China's stock index futures closed lower Monday with the contract for May, the most actively traded, down 1.36 percent from the previous trading day to 3,261.2.
The ChiNext Index, launched by the Shenzhen Stock Exchange (SZSE) on June 1, 2010, fell 2.93 percent, or 29.46 points, to 975.18 Monday.
Chinese shares closed lower Monday with the benchmark Shanghai Composite Index down 45.57 points, or 1.51 percent, to 2,964.95.
Asian stocks rose for the fourth week in five as the United States housing starts gained and companies reported earnings that beat estimates, boosting confidence in global growth.
China's regulators may allow 10 foreign and overseas-listed Chinese companies to sell shares in Shanghai under a trial program after two years of preparation, the 21st Century Business Herald reported, citing a draft plan.