China stock regulator encourages big shareholders of listed firms to raise holdings


SHANGHAI, Feb 12 (Reuters) - An affiliate of China's securities regulator on Monday encouraged major shareholders of domestically-listed firms to increase their holdings, after Chinese stocks were mauled in a savage global sell-off last week.

China Securities Investor Services Center, directly managed by the China Securities Regulatory Commission (CSRC), said in a statement that such a move could help stabilize the market amid wild share price swings.

Chinese stocks suffered their worst day in nearly two years on Friday. (Reporting by Samuel Shen and John Ruwitch; Editing by Kim Coghill)