Sichuan Express shrs halted in Shanghai after surge
SHANGHAI, July 27 |
SHANGHAI, July 27 (Reuters) - Trading in yuan-denominated A shares of Sichuan Expressway (601107.SS), which soared in their listing debut on the Shanghai Stock Exchange on Monday, was suspended in the final five minutes of the morning session, traders and the exchange said.
Exchange rules order a trading suspension for 30 minutes when the intraday price of newly listed shares moves more than 30 percent from the opening price on the first day of trade, traders said.
According to the rules, Sichuan Expressway's A shares will be suspended from trading for another 25 minutes after the start of the afternoon session at 0500 GMT, and will therefore resume trading at 0525 GMT, they added.
The A shares last traded at 9.89 yuan, compared with the opening price of 7.6 yuan and the IPO price of 3.6 yuan.
Sichuan Expressway (0107.HK) is also listed in Hong Kong. (Reporting by Lu Jianxin and Edmund Klamann)
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