China stocks flat in morning trade

Chinese stocks were flat in morning trade on Monday amid worries that upcoming share offers will drain market liquidity, dealers said. The benchmark Shanghai Composite Index slipped 0.10 per cent, or 2.04 points, to 2,057.03 points. The Shenzhen Composite Index, which tracks stocks on China’s 2nd exchange, edged down 0.06 per cent, or 0.64 points, to 1,100.62. China’s market regulator last week approved initial public offerings (IPOs) by 12 companies, most of which will offer shares for subscription this week, according to AFP.