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Stocks slide as IPOs set to resume very soon

Updated: 2013-12-03 08:11
By Xie Yu in Shanghai ( China Daily)

China's equity market slumped on Monday after the market watchdog said earlier that initial public offerings will soon be resumed after a hiatus of more than one year, sparking fears of a possible capital drain.

But many investors are expecting that a reform aiming to let market forces play their role will help revive the sluggish A-share market.

Smaller companies led the decline on Monday. The ChiNext Index, tracing stocks on the Growth Enterprise Board - China's Nasdaq-style board - plummeted by 8.26 percent, the biggest drop since it was introduced in 2009.

Stocks slide as IPOs set to resume very soon

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