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

   

Stocks plunge on re-financing fears

By Dong Zhixin (chinadaily.com.cn)
Updated: 2008-02-25 17:11

China's stock market took another big hit on Monday, as jittery investors dumped shares, amid fears over a slew of huge re-financing plans and a possible round of further monetary tightening.

Special coverage:

Stock Market 
Related readings:
 Stock market fundamentals 'still strong'
 China ends freeze on new stock funds
 WB cuts China 2008 GDP growth to 9.6%
 Slow down in GDP a healthy sign
 CPI rises to 7.1%, worst in 11 years
The benchmark Shanghai Composite Index dived 4.07 percent to 4,192.53 points, the lowest level in more than six months. The gauge has lost 19 percent so far this year and more than 31 percent since peaking in mid-October.

Analysts blamed the recent slump on plans for secondary share sales by a number of listed firms, as the re-financing schemes added to the liquidity concerns.

Ping An Insurance announced in late January its intention to raise up to 150 billion yuan, prompting other firms to follow suit, including Shanghai Pudong Development Bank.

So far this year, some 43 firms have set forth re-financing plans, aiming to raise 260 billion yuan, compared with the 394 billion for 190 firms in the whole of 2007.

Combined with the end of the lock-up period for 400 billion yuan worth of shares in March, the new equity sales spooked investors whose faith has steadily dropped, as high volatility has become the norm since mid-October.

As part of a consolation to investors, China Railway Construction Corporation has decided to cut back its initial public offering in Shanghai to 2.45 billion shares from the originally planned 2.8 billion ones.

The Beijing-based company is expected to raise up to 22.25 billion yuan after setting a price range of 8.0 to 9.08 yuan per share.

However, the central bank's unwillingness to budge on its monetary tightening policy hit investors hoping for an ease in the monetary policy due to a possible global economic recession and a recent devastating snowstorm.

Inflation remains the primary risk to China's economy, and the government will stick to a tight monetary policy, central bank vice governor Yi Gang said during the weekend at a forum.

The Consumer Price Index, a barometer of inflation, jumped to an 11-year high of 7.1 percent in January from a year earlier, as the snowstorms worsened food shortages.

Since the start of 2007, the central bank has raised interest rates six times and bank reserve requirements 11 times.

The re-financing and tightening fears outweighed the release of new investment funds by the China Securities Regulatory Commission (CSRC) to add more ammunition to the institutional investors.

Approval of new funds usually gave a boost to the market. However, given the fact that the faith of the market has fallen to such a low level, this kind of measure alone is far from enough, analysts said.



Top China News  
Today's Top News  
Most Commented/Read Stories in 48 Hours
主站蜘蛛池模板: 国产精品久久久久久久专区 | 中文字幕有码视频 | 久久精品一区二区三区中文字幕 | 欧美综合精品一区二区三区 | 国产精品一区二区国产 | 美女舒服好紧太爽了视频 | 国产精品久久久久亚洲 | 成人久久伊人精品伊人 | videosfree性欧美另类 | 国产成人毛片视频不卡在线 | 久久国产精品久久精品国产 | 日韩精品一区二区三区乱码 | 欧美一级在线看 | 久久草在线视频播放 | 国产一区二区播放 | 国产亚洲精品成人久久网站 | 一 级做人爱全视频在线看 一本不卡 | 亚洲一级在线观看 | 久草视频观看 | 日韩成人中文字幕 | 日韩美女视频网站 | 韩国三级日本三级香港三级黄 | 草草影院第一页yycccom | 黄色毛片视频网站 | 欧美日韩色 | 亚洲国产欧美日韩第一香蕉 | 怡红院免费全部视频在线 | 美女黄色在线观看 | 免费a级毛片视频 | 欧美三级美国一级 | 午夜一级毛片看看 | 日韩一区二区视频在线观看 | 综合久久久久久 | 另类专区亚洲 | 日本一区二区三区不卡视频中文字幕 | 国产激情一区二区三区 | 九九视频精品全部免费播放 | 国产成人咱精品视频免费网站 | 国产精品成人免费视频 | 日韩一级免费视频 | 亚洲男人的天堂网 |