China Expanding Stock Selling Restrictions to Insurers, Sources Say
- Some insurers received such instructions for the first time
- China is weighing rescue package to stabilize slumping market
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China is expanding its net stock selling ban from major mutual funds to some insurers, another sign that authorities are trying to support the slumping stock market, said people familiar with the matter.
Regulators issued the so-called window guidance to at least two state-owned insurance firms on Monday, telling them to refrain from selling more onshore shares than they purchased, according to the people, who asked not to be identified discussing private information.