Shareholders pare stakes to make hay

Even as the Chinese A-share market heads toward a bullish phase, it is witnessing a wave of stake reductions by companies' major shareholders, including management members and other shareholders liable for information disclosure.

Data from Shanghai-based market tracker Wind Info showed major shareholders of 805 A-share companies reduced their stakes by selling shares worth over 51.2 billion yuan ($7.6 billion) by March 11.

Major shareholders of companies in computer, telecommunication and electric equipment sectors pared their stakes the most over the past few months. Some 116 companies saw their major shareholders reduce their stakes.