The Shanghai Stock Exchange marked a day of high drama on Tuesday as the country’s largest flotation in five years that of Guotai Junan wrapped up allocations against a backdrop of wild swings in the benchmark stock index.
As investors returned from the Dragon Boat Festival public holiday, it initially looked like the equities market was heading for a further rout. The Shanghai Composite index plunged 4.8% during the morning session before staging a sharp V-shape re-bound, which saw the index bounce back 7.31% during the afternoon session to close up 2.19% on the day.
Sentiment was boosted by rumours that the Chinese Securities Regulatory Commission CSRC...
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