Block trade ordered for sale of big tranches

The securities regulator yesterday ordered shareholders to sell stocks on the block trading system if they expect to sell a large amount of shares freed from the lock-in period.

When more than 1 percent of a listed firm's total shares are sold within a month, the holders should use the block trading system, the China Securities Regulatory Commission said.

Analysts said the measure is aimed at shoring up the stock market after the benchmark Shanghai Composite Index plunged by 49.5 percent from its all-time high in October.