Beijing Stock Exchange Halts Major Shareholders from Selling Stock

New policy aims to sustain recent market rally, with unclear duration.

The Beijing Stock Exchange has implemented a new policy preventing major shareholders from selling stock, according to anonymous sources.
This policy is aimed at sustaining the recent market rally, with the Beijing Stock Exchange 50 Index jumping 10% on Monday following a 21% surge last week.
The exchange has been rejecting filings for share sales from major shareholders, who are defined as those with a stake of 5% or more.
It is unclear how long this new policy will remain in place.
The Beijing Stock Exchange currently houses 232 listed companies with a combined market capitalisation of 366 billion yuan ($50 billion).