www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Markets

Cross-border stock program offers change at the margin

By Oswald Chan (China Daily) Updated: 2014-10-15 09:17

The program will permit trades such as short selling by overseas investors, reports Oswald Chan in Hong Kong.

The Shanghai and Shenzhen exchanges were allowed to offer short selling and margin trading starting in March 2010 as they sought to deepen and diversify investor participation. Now, investors from Hong Kong and overseas markets will be able to follow these practices in Shanghai as well, with some conditions.

Cross-border stock program offers change at the margin

 Shanghai-HK Stock Connect: All you need to know 

Cross-border stock program offers change at the margin

 'Through train' set to green-light new system

At the start, the Shanghai-Hong Kong Stock Connect program will allow trading of 266 Hong Kong-listed companies and 568 Shanghai-listed A shares.

The initial quota is 300 billion yuan ($48.9 billion), or 13 billion yuan a day, for A-share trading by Hong Kong and overseas investors, both retail and institutional.

Another quota of 250 billion yuan, or 10.5 billion yuan a day, is for trading of Hong Kong shares by mainland institutions and retail investors who have more than 500,000 yuan in their securities accounts.

Hong Kong Exchanges and Clearing Ltd, which runs the Hong Kong exchange, said on Sept 26 that covered short-selling and margin trading will be allowed on northbound trading.

For short-selling, investors can borrow Shanghai-listed shares that are already eligible for this practice and sell them on the Shanghai Stock Exchange. There are several restrictions on this practice. There are daily quantity limits. The Shanghai exchange will be able to suspend short-selling if volumes become too high.

For margin trading, currently mainland investors can only do this for certain A shares. Under the Stock Connect program, Hong Kong and overseas investors will face similar restrictions. Haitong International Securities Group Ltd has estimated that about 400 issues will be eligible for margin trading.

"Initially, supply will be the main problem in lending shares to our clients," said Wilson Hui, executive director of Haitong International Securities.

Patrick Shum, Tangard Fund Management's investment manager, told China Daily that allowing short-selling and margin trading through Stock Connect will promote reform of the mainland equity market.

"Margin trading as a speculative activity is needed in the stock market because it can boost liquidity. Short-selling as a hedging tool is also needed because when short-sellers need to cover their positions through buying back shares, this creates a market rebound that can correct the market's direction," Shum said.

"In the long run, all these factors will benefit the development of the mainland A-share market."

The mainland market is still dominated by retail investors, who generally know little about short-selling and margin trading. Permitting these practices by investors from outside the mainland can help boost liquidity and stabilize the equity market, analysts said.

According to Citibank estimates, domestic retail investors account for more than 80 percent of the volume on the mainland market, while overseas investors account for less than 1 percent.

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
...
主站蜘蛛池模板: 免费久久精品 | 国产成人精品实拍在线 | 亚州国产 | 中国一级特黄视频 | 天天摸天天爽视频69视频 | 久久久精品国产 | 欧美性夜欢 | 99在线观看视频 | 久久频这里精品香蕉久久 | 99国产精品久久久久久久日本 | 欧美日韩亚洲v在线观看 | 香蕉久久成人网 | 国产三级精品美女三级 | 国产孕妇孕交一级毛片 | 欧美成人性动漫在线观看 | 日韩中文字幕免费观看 | 国产在线爱做人成小视频 | 国产一区二区三区免费在线观看 | 高清毛片免费看 | 国产呦系列免费 | 成年男女免费视频网站 | 香蕉久久久久 | 免费人成在线观看播放国产 | 国产精品1区2区3区 国产精品1区2区3区在线播放 | 久久精品成人免费网站 | 五月色婷婷琪琪综合伊人 | 美国一级做a一级视频 | 最新在线步兵区 | 日韩一级大片 | 国产高清区| 亚洲国产精品日韩在线观看 | 涩涩国产精品福利在线观看 | 久久久精品久久久久久久久久久 | 中文字幕亚洲日本岛国片 | 全免费毛片在线播放 | 成人免费一区二区三区在线观看 | 超清首页 国产 亚洲 丝袜 | 国产乱子伦在线观看不卡 | 亚洲美女在线视频 | 一级毛片aaa片免费观看 | 国产欧美精品午夜在线播放 |