More lock-up Chinese shares eligible for trade

BEIJING - The total value of lock-up shares eligible for trade on China's stock market will rise significantly this week, according to the country's two stock exchanges.

A total of 26 listed companies on the Shanghai and Shenzhen stock exchanges will see shares worth 36.7 billion yuan ($5.9 billion) released to the market from Monday to Friday after lock-up agreements expire.

The amount is much higher than the total value of 16.1 billion yuan that became tradable last week.

Under China's market rules, major shareholders of non-tradable stocks are subject to a lock-up period of one or two years before they are permitted to sell their shares.

A rise in newly unlocked shares will put some downward pressure on the market as it means an increase in stock supply.

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