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

   

Market dives 4 percent, accounts hit low

By ()
Updated: 2007-06-29 11:17

The stock market plunged 4.03 percent yesterday and new investor accounts dropped to a two-month low amid fears the proposed issuance of $200 billion worth of special treasury bonds will divert a large chunk of liquidity from the stock market.

The Shanghai Composite Index slid 164.4 points to close at 3,914.2, with 765 out of 898 stocks closing lower. The index has dropped 316.6 points, or 7.5 percent, since last Friday.

The turnover on the Shanghai bourse shrank to 127.38 billion yuan, a sharp drop from this year's record of 271 billion yuan on May 30. The number of new accounts opened daily has averaged about 200,000 so far this week, compared with 310,000 the week before.

The smaller Shenzhen Composite Index also fell 5.43 percent to close at 1,112.57, while the foreign-currency-denominated B-share index sunk 5.07 percent to close at 260.21.

Analysts said the latest series of government measures to curb stock market liquidity have taken effect.

These measures include the doubling of the stock trading stamp duty, opening up of QDIIs, the quicker pace of red-chip's return to the mainland and the proposed issuance of special treasury bonds, which triggered the latest selling spree, analysts said.

"The withdrawal of capital from investors, indicated by new investor account, clearly shows the lower confidence and hesitance of investors," Haitong Securities said in a report.

"Investors are worried after hearing the Ministry of Finance may issue special bonds, which is expected to suck out much of the liquidity from the market," said Wu Jianxiong, an analyst at Guotai Junan Securities.

But economists said the special bonds will probably have no liquidity impact on the real economy if the Ministry of Finance issues the bonds to the foreign exchange investment company in exchange for a government equity stake.

"At the macro level we don't expect any liquidity impact from the creation of an investment company, regardless of the detailed arrangement chosen, and thus no impact on the real economy," Jonathan Anderson, chief economist for Asia at UBS Securities, said in a report yesterday.

"But if the government directly sells the bonds to domestic commercial banks and insurance companies . Surely this is a big withdrawal of domestic liquidity from the financial system," Anderson said.

"The 1.55 trillion yuan would more than wipe out the entire banking system's excess reserve position with the People's Bank of China."

Shen Minggao, an economist at Citigroup said that it is probably not a turning point for excess liquidity in China.


(For more biz stories, please visit Industry Updates)


主站蜘蛛池模板: 骚婷婷| 5060网午夜| 美日韩在线 | 亚洲精品视频免费看 | 精品久久久精品 | 久久精品国产免费 | 2020亚洲天堂 | 婷婷中文在线 | 激情国产一区 | 日本a在线播放 | 久久久久色 | 免费av网站观看 | 久久高清免费视频 | 天天爱天天操 | 91精品免费在线观看 | 国产一级α片 | 性欧美又大又长又硬 | 成人免费视频网址 | 亚洲精品一区二三区 | 五月激情婷婷网 | 国产一区黄色 | 国产有码在线观看 | 99这里有精品 | 三级免费毛片 | 91尤物国产福利在线观看 | 天天色官网 | 日本a天堂 | 日韩欧美第一页 | 福利片在线 | 战狼4高清国语免费播放在线观看 | 中文字幕在线日韩 | 欧美国产日韩在线观看成人 | 欧美人与性动交a欧美精品 免费国产a | 三区在线观看 | 国产精品一区二 | 九九九视频在线观看 | 免费黄色高清视频 | 18深夜在线观看免费视频 | 91麻豆精品国产91久久综合 | 日韩成人小视频 | 成人av片在线观看 |