South Korea’s Composite Stock Price Index (KOSPI) closed down 0.5 per cent at 1,985.97 points.
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While short selling was never made completely illegal, state investigations into “malicious short-selling” combined with restrictions on same-day shorting implemented in August had a chilling effect.
“The new measure will have a big impact on market sentiment on both the primary and secondary market; new launches being sold out within one, two hours will not happen again”, an industry expert says. The European and US markets ended lower and the Asian bourses also figure to open in the red.
Anhui Conch led declines for material shares in the CSI 300 on Friday, dropping 2.3 per cent. Shandong Gold Mining Co. retreated 2.9 per cent. The materials sub-index slipped 0.3 per cent on Friday, extending this week’s loss to 1.9 per cent, the biggest decline after energy.
Moreover, the Shanghai government has raised the minimum down payment requirements for buying a second home to 70 percent if the property is defined as a “non-normal” home, or a minimum 50 percent down payment for second-home buyers who buy “normal” houses.
In Hong Kong, Dalian Wanda Commercial Properties shares jumped 1.6 percent after China’s largest commercial property developer reported a 14.8 percent rise in 2015 profit.
For the day, the index advanced 10.60 points or 0.35 percent to finish at 3,009.96 after trading between 2,980.86 and 3,012.56.
The ChiNext Index, which tracks China’s NASDAQ-style board of growth enterprises, finished 1.74 percent lower at 2,219.77 points.
Among the actives, Dongxing Securities surged 6.46 percent and Citic Securities perked 2 percent.
The northbound quota for the Hong Kong-Shanghai Stock Connect, now set at 13 billion yuan, saw balanced inflows and outflows.
Total trading volume of companies included in the HSI index was 0.5 billion shares.
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This story has not been edited by Firstpost staff and is generated by auto-feed.
