Restrictions on short sales extended further

The China Securities Regulatory Commission, the securities regulator, has extended the curbs on short sales by imposing more caps on securities financing, as it continues efforts to stabilize the volatile A-share market.

Several securities firms including the country' largest brokerage CITIC Securities Co Ltd have temporarily halted the business which allows investors to borrow shares to sell in anticipation of lower prices so that they can buy them back for profits.

The Shanghai and Shenzhen stock exchanges on Monday evening issued statements that banned selling and buying back shares on the same day for short sellers.