Worries over a rush of IPOs make for a convenient excuse for a 1.6% decline in the Shanghai Composite overnight. Regulators have given the green light to new offerings after a four-month halt and at least four companies are coming public this week. "The secondary market is bleeding," says one strategist. "Investors want to speculate on new stocks."
China's securities regulator says about 100 companies will list on the mainland by year-end.