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

   

Market-stabilizing act

(China Daily)
Updated: 2008-04-22 07:28

The introduction of the block trading system is a much-needed step to standardize sales of a large number of shares newly freed from the lock-in period. It shows that the securities authorities have fully recognized the negative impact that uncontrolled sales of such shares may have on the stock market.

Policymakers should take more such actions to plug loopholes underlying the regulatory system.

China Securities Regulatory Commission announced late Sunday that shareholders should use the block trading system while selling more than 1 percent of a listed firm's total shares within a month.

The announcement has triggered knee-jerk reactions. China's benchmark Shanghai Composite Index jumped nearly 7 percent early Monday after diving nearly 4 percent to almost half of its highest level on the previous trading day.

In the midst of all the negative factors, including the huge volatility on the global financial market, an export-led slowdown of the national economy, and rising prices of energy, resources and grain at home and abroad, lingering concerns about an over-supply of previously locked-up shares have particularly dampened investor sentiment.

As a result of a program the government started in 2005 to convert mostly State-held non-tradable stocks into tradable ones, shares worth 1.7 trillion yuan will be eligible for trading this year and those worth another 4.3 trillion yuan in 2009 as lock-up periods end.

In the absence of any regulation, investors generally worried that the huge number of such shares would flood the market for cash and therefore sink share prices.

Now, by helping ease the pressure on the secondary market and stabilizing investors' expectation on the reduction of the holdings of such shares, the move will give a boost to the market.

Investors were obviously relieved by the fact that the government has finally stepped in.

Yet, the stock climb was so short-lived that the benchmark Shanghai Composite Index even turned negative before ending flat later yesterday.

The latest market-stabilizing effort has seemingly been interpreted only as an expedient measure to stop the market decline. It is hence reasonable for investors to hope that more measures to support the market will follow.

Policymakers should pay attention to such calls, but not respond out of merely immediate concerns. The more important job for them is to work out long-term measures that underpin a healthy development of the stock market.

(China Daily 04/22/2008 page8)



Top China News  
Today's Top News  
Most Commented/Read Stories in 48 Hours
主站蜘蛛池模板: 免费黄色毛片视频 | 九九在线观看视频 | 久久99国产亚洲高清观看首页 | 欧美精品成人 | 欧美老头老太做爰xxxx | 亚洲精品久久久久中文字幕一区 | 日韩经典欧美精品一区 | 久久精品香蕉视频 | 国产精品亚洲专区一区 | 喷潮白浆 | 高清成人爽a毛片免费网站 高清大学生毛片一级 | 自拍国内 | 国产一区在线观看免费 | 久久精品国产欧美日韩亚洲 | 国产精品亚洲综合天堂夜夜 | 亚洲成人综合网站 | 伊人久久大香线焦综合四虎 | 在线视频一区二区三区四区 | 经典国产一级毛片 | 亚洲一区欧美一区 | 大美女香蕉丽人视频网站 | 日韩一级欧美一级毛片在 | 亚洲欧美精品成人久久91 | 成人在线观看国产 | 99热碰 | 欧美成人看片一区二区三区 | 毛片手机在线观看 | 国产一级一级一级成人毛片 | 欧美一级久久久久久久久大 | 亚洲一级特黄特黄的大片 | 国产精品怡红院在线观看 | 男女毛片免费视频看 | 4四虎44虎www在线影院麻豆 | 动漫一级毛片 | 久久久久久久久中文字幕 | 草草在线影院 | 亚洲精品在线视频 | 日本在线看小视频网址 | 成人男女网18免费0 成人男女网18免费看 | 欧美一级毛片免费播放aa | 亚洲欧美卡通成人制服动漫 |