Here’s Why China Shouldn’t Extend the Stock Selling Ban Set to Expire Friday

China’s stock sale ban should be lifted sooner rather than later, according to one expert. ‘[Problems arise] when you have these measures put in place and you don’t take them off when you say you’re going to take them off,’ said James Hughes, chief market strategist at GXFX, based in London. ‘ The ban, unveiled last summer when China stocks plunged, applied to its biggest investors and was set to expire on Friday. Reports say China will extend the ban, given the deep selloff seen in its benchmark Shanghai Composite Index on Monday, which triggered a global selloff in equities. ‘You can see why the ban [was in place], but it needs to come off sooner rather than later because the longer you leave it, the bigger the problem is,’ he said. TheStreet’s Scott Gamm has details from New York.