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China Press/Corporate Summary Ahead of Open   
Mon, 29 Jun 09:31 PM EST/02:31 AM GMT
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Shanghai Composite Index closed down 3.3% yesterday as PBoC's rate cuts over the weekend failed to lift the market. In response to recent market move, Chinese securities regulator CSRC spokesman Zhang said a rapid adjustment is not beneficial to the market's stable and healthy development, although recent selloff is the result of regular market operation. The margin trading risks are still controllable. He also urged investors to have confidence in the market.

As the sole institution that provides margin financing loan services in China capital market, China Securities Finance Corp (CSF) also made comment yesterday, stating that risks of margin trade business are generally controllable, and the amount of forced liquidation for margin trading is small and the room for further expansion of business scale still exists.

Some speculations emerged following the market decline. Some Chinese press said regulators likely cut stamp tax for stock trading. While, another source said China considers suspending IPOs amid recent plunges.

In addition, China regulators may unveil the scheme for national pension fund to invest in A-share market within this week at earliest. A source told that the maximum proportion of investment in stocks is 30%. The pending entry of pension funds can help ease liquidity tension on the stock market.

Premarket movers:
- Changshu Tianyin Electromechanical 300342.CN -10.0% (H1 profit guidance)
- Jiangsu Zhongtian Technology Co 600522.CN +1.7% (awarded contract)
- Leshi Internet Info & Tech Co Beijing 300104.CN -2.2% (criticized for transparency of financial re ...
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