Shanghai A-shares close morning flat; B-shares lower in volatile trade

SHANGHAI (AFX-ASIA) - A-share prices closed the morning flat on a lack of fresh positive leads, amid cautious sentiment following news yesterday of a change in the rules on the issue of additional shares, dealers said.	    Oficial reports yesterday said the China Securities Regulatory Commission has issued a rule requiring listed companies wishing to issue additional shares to achieve no less than a 6 pct average return on net assets in the three years before the share issue.	    Rules previously required companies to achieve a 10 pct average return on net assets before making additional share issues, they said, adding that the lowering of this limit has triggered concerns that the market will come under pressure from an increase in fund-raising activities.	    B-share prices closed the morning lower in highly volatile trade, while sentiment was more cautious following yesterday's news that foreign strategic investors have trimmed their stakes in Shenzhen-listed B-share firms China International Marine Containers and Guangdong Provincial Expressway.	    The news highlighted concerns that many foreign strategic investors have taken the B-shares' recent sharp gains as an opportunity to withdraw from the market, they said, adding that investors appear increasingly uncertain about the B-shares' upside potential following several weeks of sustained sharp gains.	    The A-share index closed the morning up 2.15 points to 2,205.42 on turnover of 5.53 bln yuan after trading between 2,209.67 and 2,197.95.	    The B-share index closed 0.65 points lower at 154.57 after trading between 156.26 and 152.99.	    The composite A- and B-share index closed 1.83 points higher at 2,103.49 on turnover of 6.60 bln yuan after trading to a high of 2,107.89 and a low of 2,096.28.	    The SSE-30 index rose 8.97 points to 4,052.71.	     

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