Stocks sink 1.5%, lock-up expiries weigh

Chinese stocks sank 1.52 percent yesterday, weighed down by pending expiries this week of lock-up periods for shares in dozens of listed firms, while property shares dropped after a rumoured interest rate cut expected over the weekend failed to materialize.

The Shanghai Composite Index closed at 1,987.755 points, after rising 3.29 percent last week.

Losing Shanghai A shares outnumbered the gainer companies by 520 to 400.