日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

US EUROPE AFRICA ASIA 中文
Business / Markets

Stocks struggle to maintain rally in afternoon trading

(chinadaily.com.cn) Updated: 2015-07-06 06:48

The Shanghai gauge has slumped by nearly 30 percent, or 1,500 points, since mid-June, wiping out about $2.8 trillion in market value. The average loss of individual stock accounts has been around 420,000 yuan, according to media estimates.

"If the government does not step in at this point, the panic sentiment will continue to spread and the stock plunge will deepen," said Lu Ting, chief economist at Huatai Securities.

"It will risk a spillover to the banking sector, as many funds that flew intothe stock market are from trust products sold by the banks."

Lu said the government should create a national financial stabilization fund without an upper limit to invest in large-cap blue chips to boost the weak market. He also called for collaborative regulation among the securities, banking, insurance and monetary regulators to prevent similar crises from happening in the future.

Some analysts warned that the market slump could hold back the country's push for further financial reform and the liberalization of its capital markets.

"The irrational ups and downs show that the Chinese market still lacks an effective market mechanism," said Jay Luo, president of fund management company Dymon Asia Capital.

He said the country should not letthe stock market turmoil derail its efforts to introduce market-driven financial reforms, including switching from an approval-based to a registration-based IPO system.

The A-share market had witnessed a wild rally of 150 percent in the past year until June 12, propelled by highly leveraged margin trading that allows investors to borrow money to purchase stocks. Valuations of some listed startup companies reached as high as 150 times at the peak, similar to valuations seen in the Nasdaq market before the dot-com crash of 2000.

The regulator's crackdown on illegalleveraged trading in May triggered a massive deleveraging that led to a steep fall in stock prices and the forced clearing of stock accounts that failed to meet the margin call.

Xu Hongcai, an economist at the China Center for International Economic Exchanges, said Beijing's determination to deal with the situation will help to stabilize the market, but an immediate rebound is unlikely.

"The market will trade in a volatile band between 3,500 to 4,500 points. A buying opportunity is emerging in cheap, large-cap blue chips now, but the small stocks with excessive valuations will continue to decline," he said.

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 成年黄色网 | 色网站在线看 | 人人草人人爱 | 91麻豆产精品久久久久久 | 色先锋影音先锋 | 久久精品视频网站 | 黄网免费在线观看 | 欧美成人精品 | 天天操天天爱天天干 | 国产中文视频 | 亚洲视频重口味 | 国产精品1区 | 久久精品一区二区三区四区 | 在线免费观看黄网站 | 黄色大片av| 日韩欧美国产高清91 | 久久久不卡 | av在线资源观看 | 亚洲午夜视频在线 | 欧美日韩大片 | 欧美你懂得 | 婷婷综合五月 | 久久久久久国产 | 国产一区二区在线视频观看 | 成人午夜视频在线 | 亚洲精品国产精品国自产 | 免费成人黄色片 | 激情综合网五月天 | 日日操日日 | 就要操就要射 | jizzjizzjizz欧美 | 国产精品20p| 日韩网站免费 | 国产黄色在线免费观看 | 大乳av | 青青草免费在线视频观看 | 香蕉视频 | 一区二区三区精品视频 | 99精品视频免费观看 | 麻豆成人在线观看 | 国产美女高潮 |