Fewer lock-up shares eligible for trade

BEIJING - Lock-up shares worth about 81.5 billion yuan ($12.7 billion) will become eligible for trading on the Shanghai and Shenzhen stock exchanges next week, down from nearly 130 billion yuan last week.

A total of 12.4 billion shares will become tradable, according to information service provider Wind.

Under China's market rules, major shareholders must wait one to two years before they are permitted to sell their shares.

Chinese stocks closed lower Friday, with the benchmark Shanghai Composite Index going down 0.75 percent to end at 3,021.47 points. The Shenzhen Component Index closed 1.44 percent lower at 9,939.26 points.