China’s stocks closed at a new six-year low after the week-long holiday yesterday.

　　The Shanghai composite index dropped 2.44 per cent to finish at 1,130.83, the lowest close since its 1,109.09 close on May 19, 1999.

　　The Shenzhen sub-composite index also shed 3.97 per cent to 3,031.5 yesterday. And the newly introduced Shanghai & Shenzhen 300 Index, which tracks shares both in Shanghai and Shenzhen, also lost 2.49 per cent to end yesterday at 909.17.

　　Combined transactions in the two bourses were about 8.4 billion yuan (US$1 billion), slightly down from the previous session.

　　The China Securities Regulatory Commission (CSRC) released a guideline regulation on the programme on April 29, just before a nine-day-long break for the bourses for the May Day holiday.

　　Four A-share companies yesterday announced their intention to kick off the experiment of circulating nontradable shares and offering relevant payment to minority shareholders, with more detailed proposals expected in the coming sessions.

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