Essay 37Feb, 4, 2017 Stock Market

Yesterday is the first  opening day after lunar new year. Shanghai composite index's closing quotation was 3140.17points, downed 19 points, declined 0.60%, Shengzhen component  index's closing quotation was 10004.84 points, downed 47.21points, declined 0.47%. Two Stock markets' performance were pretty ordinary.

Ahead of the lunar  new  year , China's insurance regulator at 25 announced a  ban  on insurers  acquiring listed firms in concert  with non- insurance parties. It means that according to new rules at the  China Insurance Regulatory Commission, a purchase of  at least 20 percent of  Stock in  a  listed company by  an insurer will  be  cosidered a major investment  in  the  future.

The  cause  was the  adopted by the insurace units of  Baoneng in its takeover bid for Vanke. The new rules will be  limited  and lowered investment in Stock markets, which  is not  good news  for share holders.

Just private opinions.