Shanghai share Index down 2% after announcement to resume IPO’s

Chinese stocks are lower today with the index off by 2% after China announced plans to resume initial public share offerings as early as next month, much earlier than many had anticipated. The index had already slipped for the last three days in a row, pulling back from nine-month highs as analysts begin to worry about high share evaluations and the new supply of shares that will hit the market thru IPO’s.