Investors shrug off wave of newly unlocked shares

SHANGHAI - A new wave of unlocked shares, including those of blue-chip companies, failed to depress the domestic stock market on Monday, as investors took a sanguine view of the supply surge.

The Shanghai Composite Index fell a modest 1.7 percent to 2,206 points and had a turnover of 42.9 billion yuan ($6.8 billion).

According to the financial data provider Wind Information Co Ltd, up to 8.94 billion restricted shares of 24 companies were released for trading on the Shanghai and Shenzhen stock exchanges on Monday. The shares had a combined value of about 42.84 billion yuan, calculated on the basis of Jan 13 closing prices.