By Reuters Staff
3 Min Read
SHANGHAI, Jan 22 (Reuters) - The Shanghai Stock Exchange (SSE) halted trading in several listed funds on Friday, in an apparent effort to pour cold water on a retail buying frenzy.
The exchange halted trading in units of five listed closed-end balanced equity funds managed by China Universal Asset Management Company Limited (CUAM), E Fund Management Co., Ltd, China Asset Management Co., Ltd, Zhong Ou Asset Management Co., Ltd and Penghua Fund Management Co., Ltd, after those units collectively surged by their daily trade limits.
Also in a weekly press conference on Friday, China’s securities watchdog said it would strengthen the supervision over the operations of index funds.