“Chinese companies have found a guaranteed way to prevent investors from selling their shares: suspend trading. Almost 200 stocks halted trading after the close on Monday, bringing the total number of suspensions to 745, or 26 percent of listed firms on mainland exchanges. Most of the halts are by companies listed in Shenzhen, which is dominated by smaller businesses. The suspensions have locked up $1.4 trillion of shares, or 21% of China’s market capitalization, and are becoming increasingly popular as equity prices tumble. The rout in Chinese shares has erased at least $3.2 trillion in value, or twice the size of India’s entire stock market.”
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