May 31, 2017 / 2:00 AM / 3 years ago

China stocks rise sharply after securities regulator restricts share selling

SHANGHAI, May 31 (Reuters) - China stocks rose sharply in early trade on Wednesday after regulators tightened rules regulating share sales by listed companies’ major shareholders.

The CSI300 index rose 1.0 percent to 3,513.87 points at 1:53 GMT, while the Shanghai Composite Index gained 1.1 percent to 3,142.70 points.

Over the weekend, China’s securities markets regulator published rules to restrict share sales by big shareholders of listed companies, in an effort to boost market confidence.

Investors had their first chance to respond to the news on Wednesday as the market resumes trading following the Dragon Boat Festival holiday. (Reporting by Samuel Shen and John Ruwitch; Editing by Simon Cameron-Moore)

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