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

Margin curbs send Chinese equities plunging

By XIE YU (China Daily) Updated: 2015-01-20 07:48

"The CSRC is clearly sending a warning, especially to retail investors", said Kevin Leung, strategist with Haitong International Securities Group Ltd in Hong Kong.

Prior to Monday, the benchmark Shanghai index had been up 4.4 percent so far this month after finishing 2014 with a 53 percent surge.

Because 80 percent of the transactions in the A-share market are by retail investors, who have been piling up margin positions amid the rally, analysts said the authorities had been concerned that margin trading was leveraging the risks in the equity market.

Outstanding margin loans surged to 1.08 trillion yuan ($174 billion) as of Jan 13 from about 400 billion yuan at the end of June, according to Bloomberg.

"The CSRC's announcement regarding margin trading activity was a nasty shock. With less incremental liquidity flowing into stocks and dampened sentiment, the market will correct in the near term, and the move may be violent," Hong Hao, chief strategist with BOCOM International Holdings Co, wrote in a research note on Monday.

Profit-taking also drove down prices on Monday, said Leung.

CITIC Securities said in a filing to the exchange in Hong Kong on Friday that its biggest shareholder, CITIC Group Corp, had sold 348 million shares from Jan 13 to Jan 16, raising more than 11 billion yuan in cash.

The plunge on Monday does not signal an end to the A-share rally, analysts said.

"A correction will create another entry opportunity for those who have missed out," Hong said.

A private equity fund manager based in Shanghai agreed. "The recent rally in financial shares was overdone and the market will go through a technical correction. It will head for gains again within several days,"

Leung had a different take. "I personally cannot find any support in the fundamentals for the recent aggressive valuation pickup in bank and other financial shares," he said, adding the momentum for big-cap A shares was over, while H shares would have a bigger chance to pick up as they are trading at heavy discounts to A shares.

At a glance

Why did mainland stock markets fall on Monday?

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: av在线亚洲男人的天堂 | 国产精品一区二区三区免费 | 日本欧美一区二区三区高清 | 亚洲haose在线观看 | 中文字幕一区二区三区视频在线 | 国产成人综合视频 | 成年人网站黄 | 日韩三级在线 | 2020精品极品国产色在线观看 | 99精品视频一区在线观看miya | 亚洲国产精品ⅴa在线观看 亚洲国产精品aaa一区 | 日韩经典欧美精品一区 | 久久aa毛片免费播放嗯啊 | 国产aⅴ精品一区二区三区久久 | 国产一久久香蕉国产线看观看 | 久久机热综合久久国产 | 男人av的天堂 | 欧美白人和黑人xxxx猛交视频 | 岛国搬运工最新网地址 | 91精品国产91 | 在线播放高清国语自产拍免费 | 97视频在线免费 | 日韩在线视精品在亚洲 | 亚洲视频播放 | 国产 高清 在线 | 欧美aaa| 国产精品久久久久久亚洲伦理 | 成人偷拍视频 | 精品国产亚一区二区三区 | 欧美精品国产制服第一页 | 欧美成人性生活视频 | 久久久香蕉视频 | 香港台湾经典三级a视频 | 在线播放人成午夜免费视频 | 一级毛片真人不卡免费播 | 看片亚洲 | 久久精品中文字幕不卡一二区 | 亚洲色色色图 | 成人做爰视频www在线观看 | 欧美国产成人精品一区二区三区 | 国产欧美日本亚洲精品五区 |