Guotai Junan corrals investors in bull market

Retail investors get the largest allocation of paper in Guotai Junan's flotation on the back of strong oversubscription ratios.
Is China's bull market back?
Is China's bull market back?

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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