China bans stock sales by shareholders for 6 months

China's securities regulator banned major shareholders, corporate executives and directors from selling stakes in listed companies for six months, the latest effort to stop a $3.5-trillion rout in the nation's equity market. Investors with stakes exceeding five per cent must maintain their positions, the China Securities Regulatory Commission said. The rule is intended to guard capital-market stability amid an "unreasonable plunge" in share prices, the CSRC said.