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

Stocks shoot to seven-year high but volatility remains

(Agencies/chinadaily.com.cn) Updated: 2015-06-05 15:39

Stocks shoot to seven-year high but volatility remains

An investor pays close attention on the stock market at a securities brokerage in Hangzhou city, Zhejiang province, June?5, 2015. [Photo/IC]

China stocks remained volatile on Friday, with the Shanghai benchmark gaining 1.54 percent to close at a seven-year high of 5023.10 points, after shooting above the key psychological level at the opening but then shedding all gains by midday.

Shenzhen's ChiNext index, bellwether of the recent bull run, lost more over 1 percent, with investors becoming increasingly cautious about the growth market.

The Shanghai Composite Index opened above 5,000 points - a key technical resistance level - but ended the morning 0.1 percent lower, at 4,941.01 points. The CSI300 index fell 0.6 percent to 5,148.95 points.

Hong Kong stocks also fell.

High volatility has become a pattern in China's highly-leveraged market, traders said.

On Thursday, before a dramatic V-shaped turnaround, nearly $550 billion of market capitalization had been wiped out.

"It's no longer a market where you can go up and up, with no resistance," said David Dai, Shanghai-based investment director at Nanhai Fund Management Co Ltd.

He said his fund has cut exposure to ChiNext, which trades at 140 times earnings, and is increasing positions in cheaper blue-chips.

The Shenzhen market has caught the attention of Bill Gross, erstwhile Pacific Investment Management Co bond king and now portfolio manager of the Janus Global Unconstrained Bond Fund.

He said in his Twitter account on Wednesday that China's Shenzhen market would be the next "short of a lifetime", but "not just yet."

There are signs the Chinese government is rushing to take advantage of high stock valuations in the stock market.

Premier Li Keqiang said the government would promote domestic listings of start-up firms, while a growing number of Chinese tech companies firms have fallen out of love with America, as they look to drop their listings in New York and head back home.

"We're seeing higher risks in small-cap stocks," said Zhang Chen, analyst at Shanghai hedge fund manager Hongyi Investment.

"But many bluechip companies have attractive valuations. They may take up the baton and lead indexes higher."

Investors are waiting for index publisher MSCI's decision next week on including China A shares in its Emerging Markets index.

HSBC said including China A-shares in global benchmark indices would have huge repercussions, and potentially spur index inflows of billions of dollars.

On Friday, China's banking index lost nearly 3 percent as investors took profit, while real estate stocks were firmer.

The Hang Seng index dropped 0.9 percent at 15:17 local time, to 27,304 points, and the Hong Kong China Enterprises Index lost 1.24 percent, to 13,952.

He Yini contributed to the story.

 

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 久久久国产99久久国产首页 | 看一级毛片 | 国产精品videosse | 日韩精品免费一级视频 | 国产一区二区在线视频 | 久久国产亚洲 | 一区二区国产精品 | 高清在线亚洲精品国产二区 | 毛片美国基地 | 日韩一区二区在线免费观看 | 国产原创视频在线 | 国产1000部成人免费视频 | 一个人的视频日本免费 | 国产护士一级毛片高清 | 国产成人综合欧美精品久久 | 男人天堂手机在线 | 日本免费在线一区 | 亚洲一级毛片免费观看 | 美女网站视频黄色 | 亚洲精品久久久久网站 | 亚洲视频在线免费 | 日本午夜vr影院新入口 | 久久久99精品免费观看 | 欧美成人手机视频免费播放 | 欧美成人专区 | 欧美黄色xxx | 亚洲精品韩国美女在线 | 久久久久综合 | 国产日韩线路一线路二 | 好爽~好硬~好紧~蜜芽 | 亚洲精品国产精品精 | 亚洲综合首页 | 成人影院在线免费观看 | 亚洲香蕉久久一区二区三区四区 | 中文字幕在线无限2021 | 欧美午夜不卡在线观看最新 | 国产亚洲精品日韩已满十八 | 无毒在线 | 在线视频 国产交换 | 亚洲视频高清 | 俄罗斯aa毛片极品 |