Dai qian/Shanghai Daily news

A shortage of capital continues to pervade China's stock markets towards the end of the year, worsened by hot trading of warrants that attracted lots of funds out of the market.
The shanghai Composite Index, which tracks both yuan-dominated A shares and hard-currency B shares, ended generally flat when it dipped just 0.41 percent to 1,094.29. The A-share index eased 0.39 percent to 1,150.47 while the B-share index closed down 2.02 percent at 59.66.
"As another three companies - Panzhihua New Steel & Vanadium Co, Anshan Iron and Steel Co and Shenzhen Vanke Real Estate Co Ltd - will issue warrants next week in Shenzhen, the stock market may dampen even further," said Zhang Qi, an analyst at Haitong Securities Co, who thinks regulation is necessary as to prevent irrational trading of warrant products.
The shenzhen Stock Exchange announced yesterday regulations governing the trading of warrants. Starting from next Tuesday, warrant investors will have to wait two days before they can sell what they buy, a departure from the current practice where they can buy and sell on the same day.
In yesterday's trading, shares of department stores and retailers were sought after as sales climbed higher at the end of the year.
"Department stores, shopping malls and retailers are carrying out promotions to catch the sales peak during Christmas and New Year," Zhang said."That boosts investors' confidence in the short term."
Shenyang commercial City Co Ltd rose 3.86 percent to 4.3 yuan (53 US cents), followed by Hangzhou Jiebai Group Co Ltd which climbed 3.04 percent to 3.73 yuan. Hangzhou-based Baida Group finished 2.88 percent higher at 5.35 yuan.