Listed company registered letter to the Commission condemned the monopoly card.

<P> Listed company registered letter to the Commission condemned the monopoly license </ P> <P> Shenzhen Securities Regulatory Commission in a letter card was registered until fees have to change </ P> <P> Not long ago, Shenzhen, a .influential was the Commission on the listed companies Xiushuyifeng. .Letter, the company challenged the monopoly board card charges, there are many unreasonable learned that the letter was sent to the Commission by the relevant high-level Commission. .According to Commission sources, the last week, Gordon has made a downward adjustment in the permit shareholder service fee, Shenzhen Branch's decision </ P> <P> letter changed the China Securities Depository and Clearing Corporation Limited ("the China Securities .Gordon ") is a fee. .</ P> <P> Not long ago, the Shenzhen listed companies with a considerable impact on Xiushuyifeng was the SFC. .Letter, the company challenged the monopoly board card, there are many unreasonable fees. .</ P> <P> some rough estimates of the company, according to the current charges, the company registered in the card this year need to pay the registration fee Shenzhen Branch of as many as 8.5 million yuan. .One dividend registration fee, distribution of tradable shares by the total dividend charged at the standard 5 ‰; non-tradable shares received by 1 ‰, the company's distribution plan for the year 2005 to all shareholders for every 10 shares is 1.5 yuan, the project will only .required to pay the Shenzhen Branch of China Securities Registration fee of about 2.5 million yuan. .In addition, the card board the Shenzhen Stock Exchange Shenzhen Branch also shareholders of listed companies charge a monthly service fee, the fees are as follows: monthly charge based on the number of shares outstanding, the standard for the face value of 100 million yuan (inclusive) 0.2 ‰, each more than 10 million .additional 1,500 yuan per share in circulation. .To the end of 2005 the company A shares in circulation of about 3.2 billion per month service fee paid to shareholders was 46.5 million, 5.82 million yuan annually for this expenditure. .</ P> <P> questioned the company, registered in the card business of positioning is to provide a centralized registration of securities transactions, custody and settlement services, non-profit legal entities for the purpose, the fee is how to determine the .? .Development fee is based on what? .Gordon is the card with the two branches of the same services why different charges, such as the red registration fee to send the charges for the Shanghai Branch of 3 ‰, while the Shenzhen Branch of shareholder service fees charged by the Shanghai branch has .No such charges. .</ P> <P> learned that the letter was sent to the Commission by the relevant high-level Commission. .According to Commission sources, the board has made a card last week in Shenzhen branch down the decision of the shareholders monthly service fee. .In addition, the equity allocation reduced registration fees are under consideration, may be unified with the Shanghai Branch of 3 ‰. .</ P> <P> registration fees down </ P> <P> "First Financial Daily" has recently made in the card board, Shenzhen Branch, the person told reporters: "Today just got down shareholder service fee notice. ."From July 1, the shareholder service fee of 0.07 ‰ in terms of total capital charge, the maximum monthly service 9 million, more than is no longer collected. .The registration fee for distribution rights, the person said the current downturn has not received notice. .</ P> <P> "First Financial Daily" linked to the listed company concerned, he does not want to interview the specific situation, but said the board part of the registration certificate for the adjustment costs welcomes new charges in accordance with ., shareholders only by maximum monthly service fee to pay 90,000 yuan, the annual total of 108 million. .If the registration fee can be sent down to the red 3 ‰, the company registered in the card to pay the registration fee lower than before adjustment. ."The decline in interest from the registration fee support and encourage listed companies to some extent also the cash dividend, which is also the small shareholders have a positive meaning in terms." He said. .</ P> <P> "First Financial Daily" from card board site understand that the Shenzhen Branch of China Securities Depository board registration fees are mainly three aspects: First, the development and issuance of new registration fee; II .distribution of registration fees is equity; third shareholder service fee. .The first two charges is basically the issue of shares or dividends in the one-time charge, and shareholder service fees are charged on a monthly basis according to the number of outstanding shares. .Shenzhen Stock Exchange listed companies by an average circulation of 530 115 million share capital of a rough calculation, the Shenzhen Branch of a billion dollars a year fee is huge, but provides only basic services such shareholder inquiries. .</ P> <P> differential pricing and the source </ P> <P> contrast, the Shanghai-listed company registered in the card is not required to pay such a huge Shanghai Branch shareholder services fees. .Shanghai Branch of China Securities registered shareholders of each month free of charge to the shareholders, only the single play only when a certain amount of service fees, and the amount is not large. .Such as data copy disk costs, charges 100 yuan per disk; securities inquiries proved, each 100; networking service fee of 1,000 yuan per year; shareholders less than 100 per 300 yuan, 500 yuan more than 100 each time and so on. .</ P> <P> two branches of different charges, the parties, the two branches of the former Shenzhen Securities Registration Co., Ltd. and Shanghai Securities Central Depository and Clearing Corporation set up in early 1991 and early 1993, after the establishment of .The two companies will soon be integrated into the management of the two exchanges. .</ P> <P> board until 2001, was established in the permit, the two companies were only separated from the exchange, the restructuring of the China Securities registered in Shenzhen and Shanghai offices. .The two companies had few contacts in the business, fees also vary, in the card board set up, have to try to unify the relevant fees, but the distribution of interests involving the two exchanges and background adjustment, has not been well .solve the reunification issue of charges. .</ P> <P> "Shenzhen Branch of high charges on the surface, but the arrears of listed companies each year up to tens of millions, can only form of listed companies in the cards on the board of the debt. High toll is quite upset, Shanghai Branch .Since the stock transfer fees and brokerage Fifth divided on that charge at face value 0.5 ‰, while the Shenzhen Branch of this revenue is not. The two branches are close to 200 employees, lack of transfer income, Shenzhen Branch, .If we do not raise fees, running costs of its huge body simply can not afford. "One person said, the Shenzhen Stock Exchange in recent years very few new listings, the exchange funds are relatively tight, it is difficult to transfer fee transferring this stable income .to the registration and settlement companies. .CSI board has attempted to coordinate the matter, but found very difficult..

"T + O" will be put on hold management considered not justified.

<P> Authorities has revealed that, although for some time, the trading system will introduce T +0 speculation intensified, but this has not been concerned with the support and recognition, T +0 system is likely to put on hold. .</ P> <P> learned that the people at the recent meeting discussed the issue T +0, T +0 that it is speculation, both the implementation of some mature markets are still examples of T +3 system, mature market .yet to limit excessive speculation, and some of us so-called "market, the level of activity is not enough" reason to support T +0 system, the lack of basis. .</ P> <P> "Shang Fulin, chairman's speech last weekend, has revealed a clear policy signal to the past and usher in the capital market a new development stage, must be confident about the future, greater efforts continue to strengthen .the basic capital market construction work. "the authority said, T +0 system clearly does not belong to the basic construction, and building and strengthening the spiritual foundation that does not correspond. .</ P> <P> the authoritative source, management has a clear understanding that "active market" as a reason to introduce T +0 system, not only insufficient, but plausible. .First, China's capital market is not lack of liquidity, compared to T +0 system, the only system of comprehensive, full-building basis, with higher investment value of the capital market in order to fundamentally solve the problem of attracting capital into the market .; Secondly, from the turnover point of view, China's A share market in recent years the annual turnover has remained at a high level, and higher than some mature market levels. .In this case, further "active market" results only further encourage excessive speculation; again, China's capital market need to establish the value of investments, investment performance, investment in long-term investment culture, and T +0 system which will form the negative .impact. .</ P> <P> addition, because the matter involves not only the T +0 trading system reform, also involves supervision, clearing, settlement and other issues, so when the conditions are not mature enough hastily introduced, the risk is relatively large. .</ P> <P> some in the industry that, while T +0 system had once been considered a good market, but analysts found, the more obvious short-term significance, while the long-term sustainable and stable capital market development, and significance is not large .. .T +0 Postponed precisely reflects the management focus on long-term care of a sustainable development of the capital market pains. .</ P>.

ICBC soared 12.7% surge in the Hong Kong stock market opened.

Hong Kong shares open sharply higher <P> </ P> <P>: Telecommunications, the Hang Seng Index opened sharply higher this morning, 300 points, open reporting 19,620 points, now up 287 points, a new high; H-share index opened 483 points higher, at 10,076 .point, is rose 497 points, a new high. .</ P> <P> blue chips, China Mobile (0941-HK) <> rose 4.5%, HSBC Holdings (0005-HK) <> rose 0.07%, and Huang (0013-HK) <> .; rose 0.64%, Cheung Kong (0001-HK) <> rose 0.38%, China Construction Bank (0939-HK) <> surged 10.8%, Bank of China (3988-HK) <> 6.9% ., Sinopec (0386-HK) <> rose 5.36%. .</ P> <P> H shares, PetroChina (0857-HK) <> rose 1.54%, Bank (3328-HK) <> rose 6.89%, China Life (2628-HK) < .> rose 10%, China Merchants Bank (3968-HK) <> rose 2.7%, ICBC (1398-HK) <> rose 12.7%. .</ P> <P> shares a strong sprint at the end of try-funded line of high tax rates skyrocketing uniform </ P> <P> Hang Seng Index closed at 19,321 points on Friday, again further into record high of 19,404. .The end of the year end between now and the remaining three trading days, the securities industry on a new high this week, Hong Kong stocks are optimistic, and that, foreign enterprise income tax rate of the message, Industrial and Commercial Bank A (Shanghai: 601398) of 慉 liters .and China Life (2628) A return of stocks and other good news, will drive Hong Kong stocks end at another new high goodbye. .</ P> <P> unified tax rate of Chinese banks soared </ P> <P> Hong Kong shares were volatile last week, Tuesday by Thailand's imposition of exchange controls dragged down by the stock market into a nosedive, the Hang Seng Index plummeted more than 200 points .However, the next day but rose to challenge the historical high of 19,400 level for the week rose 210 points, or 1.1%. .China Enterprises Index has hit record highs, closing at 9593 points, up 604.1 points or 6.7%. .Hong Kong stocks closed for holidays yesterday. .</ P> <P> announced Mainland Mainland enterprises, foreign enterprise income tax law formally submitted for consideration, and to stimulate the Shanghai A share index on Monday, two rose nearly 4%, respectively, and 1.8%, record high, bank shares is .Hong momentum, ICBC rose nearly 10% more due to the circuit breakers, and its market value has thus beat HSBC Holdings (005) promoted the market value of the world's third largest bank. .Some analysts that the bank will be the biggest tax reform in the beneficiary, due to tax reform involves the actual increase in profits, so Chinese banks Jiangzai a new round of upward move. .</ P> <P>: News, market strategist at First Shanghai Ye Shangzhi said Hong Kong stocks short-term trend has been strengthened, the Hang Seng Index has confirmed that 18,600 to 19,000 liters of wearing a large area over and over again, with two heavy stock and foreign exchange .control and China Mobile (941) have to reverse the signs of weakness, in fact, the Hang Seng Index closed last week hit a new high in the futures settlement and the effect of window dressing, the situation is to expand on the favorable short-term increase in the Hang Seng Index, on a test and .high of 19,404 liters of wear before. .</ P> <P> poor U.S. economic data, leading to frustration on the 3rd with the U.S. stock market, Dow Jones, Nasdaq and S & P 500 index on Friday closed down 0.5%, respectively, are about. .China Mobile and HSBC, the local listed ADR (ADR) are involved or close to 0.8 yuan and 0.2 yuan. .However, co-director of CASH Asset Management Yao Haoran that the U.S. dollar against all major currencies of stability and precious metals prices rebounded fatigue, material of funds into the stock market has been expected after a round of consolidation in the U.S. the Dow, after the Christmas holidays, another powerful .high, and there is support for the role of Hong Kong stocks. .</ P> <P> A + H makes the bull market of Hong Kong stocks soared with the A feed of red-chip shares of state-owned enterprises soared </ P> <P> Hong Kong stocks over the past years has been dominated by U.S. stocks, but with the Hong Kong stock gradually "in the" turn .In recent years, the Mainland and Hong Kong, pushing the "A + H" listing of state-owned enterprises from the previous level of more to broaden the level of red chips, China factors on the growing influence of Hong Kong equities. .With the "A + H" in the implementation of the market that the A shares and H shares of the relationship between the H shares has been driven mainly by the past, A shares, the evolution of interactions between the stock market. .As the Mainland and Hong Kong public holidays, there are differences in the mainland of the bull market created at any time there's a rare big Hong Kong stocks rising market. .</ P> <P> "A + H" The stock market has recently become a hot topic, following the earlier SASAC Director Li Rongrong that will definitely speed up the return of A shares of overseas listed shares, the China Securities Regulatory Commission recently responded assistant chairman Yao Gang, said in .SFC next year, will continue to promote high-quality large-scale enterprises in the domestic and foreign markets, encourage the return of H shares A-share market, but also rare that the return of red chips and study ways and means A shares. .A shares in recent months when the confirmation of the bull market, I believe that both H shares and red chips as well as the mainland A shares will rally over the past two days, and large rise. .</ P> <P> Hong Kong for two days each year on the day following Christmas and the Christmas holidays this year with 23 and 24 day holiday weekend, so that Hong Kong stocks closed for four days straight. .Hong Kong stocks in the past because the external market-driven mainly by the West, the Hong Kong public holidays and closer to the West, usually only in the United States National Day, Thanksgiving and other trading day differences appear, so both U.S. and Hong Kong due to holiday than the magnitude of difference in the trend appears .small. .</ P> <P> materials with the A shares of red-chip state-owned enterprises soared </ P> <P>: News, however, are intricately linked with the mainland Hong Kong stock market closed for the Christmas holidays and will not, the stock market coincided with the Mainland .surge in the early stages of the bull market. .Shanghai A shares continue to operate except the last two days apart, the day before yesterday and yesterday's Shanghai Composite Index recorded 4.39% and 1.81% of the alarming increase. .Which ICBC dual listing (1398) accumulated over the past two days also increased as a half, according to the Hong Kong dollar against the yuan against a close one, and economics with the goods with reasonable price, ICBC H Shares on the closing price tomorrow than 4.4 should .element on the basis of 25% increase. .The two co-driven stock market, there will also bring Hong Kong stocks soared City. .</ P>.

Very sensitive to market interest rates again rumors can be sure.

<P>: Http:// information, future market 3200 points to 4000 points is the best platform for a large expansion, the region to accelerate big market is the most suitable capacity. .Although the emergence of junk stocks fell last week, but this risk education is still far from reversing the trend of market speculation, after a rebound in the week after, it is necessary to continue to strengthen market risk education. .Investors this week, interest rates must be very sensitive to the week, the market and it should be repeated in the affirmative, the rebound adjustment for the afternoon of the new energy savings. .</ P> <P> average system 20 in 4024 points, 30 in 3969, 60 days in 3609, we think that upside the back quickly to 4000 if the point will be the policy of repression, to adjust it in line with the .party's interests. .After last week Xiaban Zhou rebound this week, closing out the third week of Yinxian increase the likelihood of the root, 5-week moving average of the pressure is quite large. .Rebound is just the opportunity to small and medium investors to lighten up. .</ P> <P> trend is likely next week: Monday at 3,900 points above are repeated, or if it fell below 3900 points of adjustment that the new beginning, the current V-shaped reversal again is unlikely, if .does occur, that they may be dropped in the beginning. .For long-term healthy development, appropriate adjustments to the market even more. .If the 1000 points to 4000 points in the process do not make the expected profits, then the shock in the future have a greater harvest, must bear a greater risk. .Whether or not the decision to raise interest rates drive the broader market changes direction. .</ P> <P> </ P>.

Even behind the stock market regulation, said Fan Gang, can not let the stock market had a good day.

<P> Economist Fan Gang: The regulation of the stock market was timely and necessary </ P> <P> "The regulation of the stock market was timely and necessary, can not let the stock market had a good day .too long, too long will go wrong! "well-known economist, National Economic Research Institute of China, the People's Bank of China Fan Gang, member of the Monetary Policy Committee said yesterday. .</ P> <P> The Fan Lai Yu, Chongqing, made a special trip to participate in business enterprise management consulting firm Confucian organization a "forum famous" activities. .</ P> <P> macro-control: when the moves should be in the most fun </ P> <P> Some people say, why the government always with the market "against", likes the stock and property markets have the most fun when you rose pour cold water? ."When the risk of a market large enough would collapse, the bubble has burst big time to come to the discussion of market risk issues, day lily is cold at that time." Said Fan Gang, in fact, macro policy will always be so, that "counter-cyclical .. " .Macro-control should always be there in the first signs of the risk has just increased the formation of overheating when the trend began to begin to control, so as to achieve the purpose of ironing fluctuations. .</ P> <P> the stock market: the government prop up the market be remiss if </ P> <P> for the current stock market wisdom of "do not believe that congress and the Olympic Games before the government will make stock prices," saying that Fan Gang's point of view is this: .should never be longer because a political agenda or the international sports go to artificially prop up the market, the market should no longer be such a fantasy. .</ P> <P> his view, regulatory function of government policy is to reduce market volatility, the rest of the market risk should be borne by the markets themselves, the better to fall down as soon as possible, but less volatile. .Now if the Government do such a stupid prop up the market, but also for dereliction of duty. .</ P> <P> why China's stock market can not become a long-term "economic barometer," he figuratively: thermometer to body temperature first to get to full contact and human skin. .Now we are between the stock market and economy, but also separated by a layer of rubber, or other things, this "barometer" to appear too out of it? .</ P> <P> Price: roots rising from abroad </ P> <P> for the persistently high consumer price index (CPI), Fan Gang, that the big problem is not overheating performance. .Because the current prices of a major only to the food, manufacturing, products, services, products, prices are relatively stable. .</ P> <P> food prices is not entirely China's domestic problems, the cause is due to the rise in international energy needs, affecting corn and other agricultural products and feed prices caused. .</ P> <P> the recent interest rate increase will not do it again, Fan Gang said: interest rates and other economic variables should be based on market supply and demand needs, should "regularly adjusted, often change." .He believes that if the fundamental need to raise interest rates, then the appropriate adjustments to the "market is good." .The rate hike would not raise interest rates, economic problems will cause the accumulation of even more serious in the long run benefit the stock market even more! .</ P>.

Mysterious lantie speedy delisting fried SAIC 16 may earn 38 billion!

News: http://, a few months ago the mystery out of Lanzhou Railway Administration in a number of companies this year a quarterly list of the top ten shareholders, holding the most is the Shanghai Automotive (600104.SH). Shanghai Automotive-annual report released today shows that after 6 June 16 business days of Lanzhou Railway Administration has already awaiting exit. If Lantie held by Shanghai Automotive all cash is expected to recover funds nearly 38 billion.

≫>> Unveils China's first private fund of mystery

Lanzhou railway administration through its five companies hold the Shanghai Automotive 22916.74 million shares, respectively, in the first quarter in occupies the top ten shares shareholders in first, second, third, fourth and sixth position. It is because they appear suddenly, Shanghai automobile concerns of other investors.

Although from 6 June you can see in the list of shareholders, Lanzhou Railway Administration also without holding signs, however, from the Shanghai Automotive's half annual report, and after 16 trading day after the mysterious disappearance. In accordance with the stock price during the Shanghai Automotive, minimum 14.40 Yuan, up to $ 19.56, mainly in 16.50 to $ 18 per interval. So if you keep in mind, to an average reduction of $ 16.50 prices all sold Lanzhou Railway Administration in this part of the company, should be recovered funds nearly 38 million.

≫>> 50 million move 37 billion, the largest private equity funds route restore map

Because Shanghai Automotive achieved the first half of the per-share earnings, $ 0.415 129.1 percent and the realization of net profit is more than 27 billion yuan, an increase of more than 350 per cent. Therefore, in Lanzhou Railway Administration after the exit, Fund and social security will fill the top 10 trading stock shareholder position. From Lanzhou Railway Administration holding shares of the company since July of stock price trend, Shanghai Automotive is an unique, rising 8.28 per cent yesterday after receiving the $ 25.11.

According to Lanzhou Railway Administration held four other bin distributer companies prior to the annual report, published in semi lantie total amount recovered before an estimated $ 16 billion.

State-owned stock market value this year to 12.04 trillion.

<P>: Http:// News, as of December 11, 2007, with the beginning of the Shanghai and Shenzhen A-share market than the total of 22.13 trillion market value increment created, of which 1.038 trillion total value of state-owned shares 12,040,000,000,000, the highest ever .the highest value on record. .153 central enterprises including listed companies holding a total of 146.5 billion shares held by state-owned shares, added 3.05 trillion yuan over the same period. .</ P> <P> the data from the market value of listed companies in China Management Research Center yesterday released information in 2007 and 2008, China's top ten market value forecast China's top ten, which is the United First Financial, Xinhua News Agency, CCTV China Financial Report .editors and other news media, comprehensive selection. .Established in 2006 at the end of the market value of listed companies in China Management Research Center, is the first listed company specializing in the management of the market value of the academic institutions. .</ P> <P> The center raised the 2008 forecast market value of China's top ten, including the Shanghai and Shenzhen stock market value will exceed 50 trillion yuan; A stock market value to grow 70%, living in the forefront of global growth; rate of China's securities is expected to challenge .200%; the SSE market capitalization of listed companies will be among the world's top four; has a billion more than the market value of the personal wealth of 300 people; A-share market capitalization trillion yuan over number of listed companies is expected to reach double-digit, billion level .Number of listed companies will be more than 50. .</ P>.

Gotta play last week, the block trading system, "the size of non-" the transfer of 687 million.

Recent inquiry will be carried out and auction block trading <P> SSE message transfer service, in which the active organization, the market for block trading system through the lifting of restrictions on sale of stock shares for sale good response. .April 22, there have been partial lifting of restrictions on sale of shares of stock trading system through the SSE consultation bulk transfer, transfer a total amount of 687 million. .<P> (Http://) 4 月 22 日 to 25, to lift the block trading system limited the amount of the transfer of shares of stock sales were 0.36 billion yuan, 502 million yuan, 0.22 billion yuan, 127 million. .Block trading system through the transfer of the maximum number of 830.71 million shares, accounting for the largest proportion of the total shares listed on a single 2.31%. .<P> The bulk of the SSE trading information published on the website show that 22 to 25, total block trading system SSE 10 transactions involving the Shanghai Pudong Development Bank, China Ping An, China Life, S forward, * ST cotton high .6 West Water shares of shares of listed companies, the total turnover of 755 million yuan. .Can be calculated, the lifting of sales limit the amount of the transfer of shares of stock accounted for all of the SSE trading period the amount of block trading system more than 90%. .<P> SSE said that the block trading system with flexible pricing, the price impact of floor trading on the small, high efficiency, low transaction costs for large-scale transfer of shares in focus. .Moreover, the SSE to further expand the participation of investors the scope of the block trading system, as the shares have been circulation to provide efficient transfer of the right platform, which can effectively alleviate the lifting of restrictions on sale of shares of stock for sale on the secondary market impact. .<P> SSE also encouraged to actively participate in the block trading system brokerage business, while encouraging eligible investors to apply for block trading system of qualified investors, recently accepted the relevant application will be eligible to be considered. .In transaction mode, through inquiry and auction of large transactions also will soon carry out the transfer of services. .<P> Shenzhen, at present the only major Asian technology Shenzhen Stock Exchange for a 3 pen through block trades, the total volume of 519 million shares, the total turnover of 46.629 million yuan. .Since 6500 the company sold shares of restricted shares were traded on March 31, market participants believe that lifting the limit of large transactions and transfers of shares of stock sold highly relevant. .</ P>.

In the search for trading opportunities in Ruoshi.

Two cities with the previous session on Tuesday, the broader market opened higher on rebound in homeopathic trend, but the heavyweights of the increasing weakness makes the market sell-off, the final index to reports received in Yin Xian. .Meanwhile, the disk was not accompanied by the amount of oversold bounce can be effective amplification, the cautious attitude of investors that the market is still difficult at this stage to reverse the weak pattern. .However, the continuous decline in the early process of stock market volatility on the external market pressures and domestic economic adjustment has been adequate and over-reaction, while continuing to drop in to create some of the trading investment opportunities. .Waiting for the future operation of the market trend to reverse the process, three types of investment subject worthy of our attention. .First, look for substantial growth in the three quarterly results, with net profit growth rate of the relative advantage of oversold valuation of variety. .Only last week the Commission issued the "cash dividends of listed companies on the modification of certain provisions of the decision" will no longer be included in the stock allocation of profits linked to the proportion of re-financing, some with strong profitability of the investment value of the intrinsic blue chip stocks will be excavated .. .In the current phase of the three quarterly disclosure, these stocks should seize the opportunity. .Notice of the situation observed three quarterly results, these companies focused on agriculture, forestry, animal husbandry, fisheries, financial and mining and other sections. .Policy changes on the visual strategies to take care of the band to participate, but be careful to avoid three of the companies quarterly results below expectations. .Second, less affected by the economic downturn, cost less anti-cyclical industry pressures. .In the continuing cycle of domestic economic adjustment process, the follow-up of macro policy shift will be an important positive factor to promote the stock market. .In a preferred development of the industry with high growth potential businesses at the same time, you need to strictly defensive strategy, concerns the sensitivity of the economic cycle, the smaller the media, communications equipment industry, choose a relatively low valuation of commercial trade, trade boom of the higher .Medical Biological stock. .In addition to the recent changes in the disk hot spot situation, the Government to promote infrastructure investment will bring construction, construction machinery, heavy truck and other related industries to benefit, in which high-speed rail, passenger rail transport network construction has become a top priority, .the future is bound to generate new investment opportunities. .Third, the subject class of investment products in the stage index is expected to rebound in the process of the formation of local hot spots. .Promote rural economic reform will lead to investment opportunities in related industries such as agriculture, chemical industry. .As the price system to promote water, electricity, gas price increase is expected to increase, which had advanced into the economy to the previous low performance of the enterprise to bring new growth. .With the state-owned holdings and holding shares in construction related to improving the system, some state-controlled funds face plenty of major shareholders of listed companies holdings of shares in turn, not only to stabilize the market, boost confidence play a role, but also to a certain extent .mitigation, "size of the non" of the lifting of the ban pressure. .Valuation of which has been at or near the bottom and the history of corporate finance and cash flow steady medium-term investment opportunities in the listed company. .Overall, we believe that the global financial crisis and economic recession for the interference of the domestic capital market in the future for a long period of time is still difficult to eliminate, A-share market trend of the opportunity to form conditions are not met. .Therefore, in the investment strategy in the control position on the need for optimization of the premise of high uncertainty, the future growth rate remained relatively stable in the defense industry, to avoid falling trend, the cyclical slowdown in demand industries..

Small plates the day the crash of China's economy will lose the brightest of the bright spots.

<P> Small board index return historical high, showing that China's future economic hopes private companies in the small plates; value of the investment and short-term speculators to squeeze into the small board, that in terms of speculation or from the future growth prospects, investors, small plates are .hope. .</ P> <P> 8 18, the Shenzhen SME Board index points to 5964.66 from a high of April this year, only one step away. .From October 28, 2008 since the small board and went straight up out of a market. .Since the introduction of small board index rose after the out of the market, in the January 15, 2008 reached a high of 6315.09 points in less than three years, or up to 532.36%. .Since then turned down by the financial crisis, but began to rebound in October 2008. .In sharp contrast, over the same period the Shanghai SSE 50 Index and wandering in shock. .</ P> <P> any one market, blue chips are Dinghaishenzhen, but The Magic no longer Dinghai China's stock market, but a syringe to absorb the natural resources. .And has been criticized for not rational irrational small board all the way down, in the high spread upward to dismount. .</ P> <P> large capitalization stocks fail to bring China's securities market discount is ordinary income of the important reasons for investors, the stock market a decade to bring very little return for the investors. .</ P> <P> China's large state-owned enterprises listed on the Shanghai market base, the Shanghai Composite Index and the small plates become large state-owned enterprises and private enterprises belonging to the regional market index for small plates to give high expectations, but in the history of .low levels of banks and other large-cap stocks have not yet popular. .</ P> <P> margin of safety theory, no one would think that buying cheap now have a greater risk of the bank, but the problem is, such companies will not bring excess returns. .With endless re-financing package to push, and the waiting-listed city commercial and rural credit cooperatives, non-performing assets after restructuring management company, it is difficult to believe that the scale of victory in the bank to surprise investors. .</ P> <P> market shares there are several heavy discount. .Market shares to bear the cost of reform, a steady stream of large-cap stocks large cap stocks to the market reduces the level of economic restructuring is undertaken prior to the cost of reform, and in the current economic transition will have to bear the social costs of increased pressure. .Banking sector restructuring state-owned enterprises prior to listing the cost borne by the performance on the table, overwhelmed by bad loans, some banks are substantial bankruptcy. .After the restructuring and listing in the bank, as the infrastructure for local, state-owned enterprises bear the costs hidden in the bottom surface, bank statements flowers, but investors are always worried about profit and non-performing loan ratio at the local government debt, high risk housing in .vulnerable in front of the property market. .</ P> <P> more importantly, the internal corporate governance structure of state-owned enterprises is not a breakthrough, although the performance appraisal and other people to see a glimmer of hope, but the key of the professional manager system, separating so hard .satisfactory. .Investors certainly not the words of the SASAC, seriously, that really increase the value of state-owned enterprises during the market has been achieved..

Sany heavy industry programme adjustments concern programme tuning difficult to help market turning points

In the sharp correction in 2004 after profit distribution programmes, Sany heavy industry yesterday on the share-trading reform pilot programmes make an important change: increased circulation shareholder compensation shares, raise the non-trading stock listing flow threshold. This quick and efficient market support in the other three pilot enterprises share price-contusion, Sany heavy industry's share price on $ 20 again, closing up over 2%.　　The industry believes that, in the extremely depressed market atmosphere, Sany heavy industry increased reduction threshold, to market a relatively positive signals. According to the Sany heavy industry's latest on the price of the programme, the circulation of shareholders every 10 shares-shares will receive 3.5 shares and 8 Yuan in cash, as compared with the previous programme for every 10 shares increased 0.5 unit, cash consideration. Under this programme, Sany heavy industry non-negotiable shares shareholders to pay the shareholders a total circulation of 21 million shares of stock and cash consideration of $ 4800. Additionally, for big shareholder holding, Sany heavy industry of the controlling shareholder of three a group co., Ltd. is also the original commitments, based on additional commitments, expressed only in meet both conditions may only be listed transactions sold non-negotiable shares: one is the Sany heavy industry equity division reform programme for the implementation of the first trading day following the expiration of 24 months or more; the second is from the share-trading reform programme in place, any of the five consecutive trading day company secondary market stock closing price reached $ 19. Previously, Sany heavy industry has on the 2004 annual profit distribution proposal and capital reserve increase equity programmes conducted a major adjustment: the original developed for every 10 shares were converted into 5 shares of $ 1, adjusted for every 10 shares were converted into 10 unit 2 element.

A bit reluctant to disclose names of institutional investors think, Sany heavy industry to modify the programme, to the stock market has brought a few positive signal: on the one hand, the company said after the modification is "Exchange with small and medium-sized investors and all non-negotiable shareholder proposals", this indicates that to fund-based large organizations have started to share-trading reform really play an important role in the spread of equity division reform pilot is expected to pass non-circulation of shareholders and circulation of shareholders game market parties, consultations, a possible balance in favour of the public investor. On the other hand, Sany heavy industry is not actually modify the pilot programme for the first time, the first active adjustment is done by modifying the 2004 plans for profit distribution, this time the pilot programme of direct modification, to the market with a good head, which is listed as previously stated, the circulation of shareholders take it or not, they still have room for negotiation. Sany heavy industry University shareholders changed the second reform package and the establishment of selling high threshold behavior, contribute to the gradual transformation of the market expected, i.e., equity division reform will continue to improve, continuous improvement, continuous flow towards the protection of the interests of shareholders.

Market analysts, three a group holdings stock threshold elevation, on the General market trend has a positive effect. From the moment, the current market after sharp decline has an inherent requirement of the rebound. At this point the Sany adjusted equity division reform pilot programmes, although not considered policy signal, but on the market, can have positive expectations. Especially for the $ 19 behind unit standards will improve their management of listed companies forced to enhance performance, reduce the impact on the secondary market.

Some securities analysts told reporters that from Sany on pilot programme of repeated modifications can be seen, funds and other institutional investors in the shareholder structure of game play a more important role. Market is generally called for in the second batch of pilot companies should join representative of blue-chip enterprises, such companies may allow the pilot the pilot programmes towards more conducive to public investors, small and medium-sized investors Fund of blue-chip bin distributer might perhaps be optimistic is expected.

However, in the Fund and other institutional investors in a widespread view that the Fund to stocks led market fell and the share-trading reform, regardless of the specific programme, representing a decrease of roots, a macro-economic background, including macroeconomic regulation and raw material price increases, and other factors that enable investors in listed companies are expected to have a fundamental change. The second is the current share-trading reform to market has brought a lot of uncertainty, such as how long the reform, there is no compensation for the bottom line, will not be good for the company is not willing to pay the price, the difference of company desperately to realize full circulation, etc. Some funds company believes that the effects of significant shareholder structure, rules of uncertainty, asymmetric information, leading investors to reform expected uncertainty. Sany heavy industry such programmes to fine-tune individual companies, does not contribute to the overall market of the real turning point.

Paradise has bought a controlling stake in the case of chicken has changed.

<P> Rumored yesterday, the United States the way through the stock exchange has been the acquisition of Yongle iron nails, but yesterday afternoon, Chen Yongle in the high-level emergency meeting was held, the vast majority of company executives met with opposition. .Gome acquired Yongle can proceed smoothly, as the industry's biggest concern of concern. .</ P> <P> source attitude U-turn </ P> <P> day before yesterday, Paradise in the Hong Kong Stock Exchange opened after 5 minutes sudden suspension. .Yesterday, Gome also issued suspension notices suspension is waiting for China Paradise Electronics (0503.HK) released a joint statement, the statement and the possible merger, the merger may be issued through the Paradise a full takeover bid for the initiative may .significant transactions included no mention of the purchase price. .Paradise is the third largest home appliance chain enterprises, the market value of about 50 million. .</ P> <P> yesterday morning, a source interviewed, the attitude is very clear, said the company would by way of equity swap, in exchange for 1 share for every equity shares of Paradise 3, the two sides negotiation of the acquisition agreement has been reported in Hong Kong .Stock Exchange final approval. .But yesterday afternoon, reporters once again to call the person, his attitude to a 180 degree turn and become very fuzzy, do not want to say more, just told reporters a day or two look at the bulletin information. .</ P> <P> Paradise high-rise strongly against the merger </ P> <P> was removed yesterday afternoon, this reporter received a message, the original has been talk about a good acquisition, yesterday afternoon held an emergency meeting in Paradise, Paradise high-level encounter .The strongly against it. .Chairman Chen Yongle, the objections of senior executives in public, but also to forego the merger with Gome. .</ P> <P> press spokesman Huang Jianping this call Paradise, Huang Jianping merger of Gome and Yongle reluctant to disclose any information, saying only that he did not know any of its content, the company has no one else knows. .States United States He Yang Qing spokesman also vaguely said that "there is no case." .</ P> <P> yesterday afternoon, the reporter called Sun Weimin, president of Suning Appliance. .Sun Weimin said the rapidly changing incidents, so that he is difficult to evaluate the country to make a U.S. acquisition. .Has bought news of Paradise, is to determine the acquired previously, but now that collapse, according to a received message, is not known how the specific situation is the same thing. .</ P> <P> has bought Paradise there is hope </ P> <P> Paradise level with strong opposition, the United States matters relating to how the acquisition of Paradise? .Industry analysts, though strongly opposed to Paradise States United States entered the high-level, but in the long run, the United States is still very much acquired Yongle hope. .With the world's largest home appliance chain Best Buy into China, the domestic home appliance chain enterprises huddled possibility is very great. .If Paradise has bought success, the number of Gome stores nationwide will quickly rise to more than 800. .</ P>.

Deposit reserve ratio by a limited impact on the stock market.

<P> Last weekend, the central bank again raised the deposit reserve ratio by 0.5 percentage points. .SW said the latest research report: the central bank in September will not be issued until a comprehensive policy of austerity, and the second increase will be difficult to have much impact on the stock market, bond market liquidity, after tested in the short term, in August is expected to .brewing backlash. .</ P> <P> SW reported that second-quarter economic data to remain high this led directly to control behavior: in the second quarter GDP growth rate reached 11.3%, reaching a new high over the years, 1 month to 6 months .Urban fixed asset investment growth rate was 31.3%, with continued rising trend. .</ P> <P> "liquidity contraction + administrative control" </ P> <P> report that, given the rebound in investment and credit this year, primarily driven by the impulse to invest in the local government, and after the completion of the share reform of state-owned banks .loans have been greatly enhanced, so the central bank will take a "liquidity contraction + administrative control" This more targeted approach. .</ P> <P> raised the reserve ratio will once again about to freeze 150 billion yuan of funds, together with reserve ratio increase in June and May a total of 3 times since the orientation of the central voting issue 250 billion yuan, the central bank through open .return of funds by means other than the market reached 550 billion yuan. .</ P> <P> central bank data show that 6 at the end of the excess reserves of financial institutions was 3.1%, reserve ratio increases twice the formal implementation of the policy, the static term bank excess reserve rate by 1 percentage point, the banking system .situation of excess liquidity and credit capacity will be significantly inhibited. .</ P> <P> no choice for the central bank to raise interest rates, the report that there are two reasons: the current over-investment is mainly caused by the local government investment impulse, rising costs of funds are less sensitive; RMB appreciation on the deposit interest rate .increased inhibition remains. .</ P> <P> Although the June Fed rate hike by 25 basis points since mid-July but the domestic one-year central bank bills and the 1-year LIBOR spreads have narrowed to less than 3%, if the deposit and lending rates will increase .stimulate the flow of hot money, increasing the pressure of excess domestic liquidity. .</ P> <P>.

Financial and real estate in Shanghai and Shenzhen stock market volatility are two engine shutdown.

Official interest rates and financial markets set the tone for the CPI as the main reason is not excessive.

<P> World Financial Report: http:// News, the official and financial markets set the tone for the consensus CPI data over the central bank will not raise interest rates target </ P> <P> U.S. stocks drop on Monday, repeated on three major indices closed near the .unchanged, the market waiting to see a number of economic data later this week, investor sentiment turned more cautious. .China announced in May consumer price index (CPI) rose by 3.4%, the early part of the message yesterday, dragged down the Shenzhen and Shanghai City, with every sale of land at the past, Hong Kong stocks fell, investors generally tend to underweight, dragging down the early part of the soft, .Mainland stock market turn down for the afternoon rise, and land sales in general, the market will see a rebound. .Hang Seng Index finally closed at 20,636 points yesterday, down up 20 points, breaking the recent land sales will fall fate; and state-owned enterprises also rose 13 points down, at 10,917.95 points, the overall turnover of 57.5 billion yuan. .Hong Kong stocks a lack of information as speculation continues to linger in the near future HSI 20500 points to 21000 points, stocks remain market-oriented city is not fried. .</ P> <P> Mainland food prices expected to push measures to stop </ P> <P> the Mainland in May this year, announced yesterday, the CPI data, and as the market expected the central bank of 3% above the inflation target, rose 3.4% .and the first 5 months total, CPI increased by 2.9%. .In a mature economy like the United States, whenever the CPI data rate of increase is too high, so that the central bank will raise interest rates shot a desire to intervene in order to make long-term economy to grow steadily. .CPI in the Mainland before the announcement, market participants also expect the central bank's target data will be higher than that, so yesterday's news in fact not surprising, while the Mainland is also a newspaper in advance briefing, in response to central bank Governor Zhou Xiaochuan on the earlier CPI .comments and interest rates, interest rate expectations for the market, speculation on cooling, so the stock markets yesterday, there was no significant fluctuations. .Although in the early part of the main stock index was down, but then rebounded 1.91% have been reported to 4271 points. .According to the National Bureau of Statistics data, in May food prices rose 8.3%, non-food prices rose only 1%, consumer goods, which increased by 3.9%, services rose 1.7%, housing rose 4%. .Obviously, last month, CPI rose above the target, so the focus and directed the focus of market analysis also point to food prices. .In fact, the recent China News is a social one on pork prices, and alerted to the Premier level, which ordered a halt earlier this week, the State also came the news of corn into ethanol fuel, bio-fuel to prevent over-crowding people .daily food supply. .</ P> <P> push tax incentives to encourage farmers to produce </ P> <P> Although the central bank this CPI data will not raise interest rates beyond the goal, it has become the consensus of the official and financial markets set the tone, but I believe .China will gradually have the measures against the introduction of higher food prices. .The basic principles of economics using a simple scrutiny, the price is supply and demand game come to, so from the supply side, it can be expected that the Government will encourage farmers to produce positive measures introduced to increase production, this reduction could be tax incentives to reduce production costs such as .the price of feed, fertilizer pesticides to improve the profit level, or raise the official procurement price and so on. .However, because plant breeding takes time, so I believe the next few months, the Mainland will increase food prices remain at high levels. .</ P> <P> slowly raising interest rates to curb inflation </ P> <P> the Mainland policy is to build a harmonious society, both stock and property markets in recent years, the case of overheating, although the Government intervened, but the means to still be considered to take measures to moderate .in order to avoid unnecessary turbulence, therefore, the current Mainland tax year deposit rate before interest, real interest rates Although lower than the CPI, to curb inflation is clearly into the important issue, but also really take into account many factors taken into account (in RMB .upward pressure on the stock and property markets, rural livelihoods, social stability), even if China really need to raise interest rates next to curb inflation, slow the pace of advance will still be the main theme. .</ P>.

Sensitive high diving cited two major regional Juzhen suspense.

<P>: Http:// inquiry, hesitation in the market, the trend on Wednesday Xianyanghouyi, 4312 at the highest point on the touch, approaching a record high of 4335.96 points, after the regional, Yao City, a sudden drastic changes in half an hour, up to down .hundred points. .High-sensitive market in the early turbulent region, bringing the two most suspense become the focus of the market. .</ P> <P> suspense one: approaching record highs once again will lead to policies regulating the market trend? .</ P> <P> in China Merchants Bank, Vanke and other banks, real estate heavyweight adjustment case, the broader market on Wednesday before 14:30 in the movement are all strong, from June 15 to 19, upside trend of continuous .It also shows a strong bull market to do more atmosphere. .Wednesday morning upside, at 2:30 pm after a sudden sharp diving, there are two main reasons, first, approaching the previous high point of the regional stock index, many cautious investors feared that the policy will once again control the market, so that differences between short-term market Pupil .have increased, some investors took short-term rallies to lighten up the operation strategy, leading to market buying power reduced. .In the diving at the same time, interest rates and other bad news once again began to widely circulated, causing some investors to sell into the unstable state of mind out, which is caused by diving on Wednesday, Yao City, an important reason. .</ P> <P> Second, the market straight from the June 5 rally since the middle of the shock without changing hands more fully adjusted, Hing Fat Group, Anshan Xin care and other recent large increases in the accumulation of species fell sharply, triggering .market, profit-focused emission, due to the relative lack of tray, sell into the formation of resonance effect in a short time, Yao City, the rapid diving naturally occurred. .</ P> <P> cool from an objective perspective, Wednesday, Yao City's sudden dive only with a certain non-rational, the main body also has the possibility of inducing market initiative retracement. .Investors on Tuesday because of careful market trend has been noticed that three mild warning, first published in prosecuting illegal banking authority of the media market funds; Second, China Mobile may raise funds in the July issue of 800 billion; third, ."cardinal" scale lifting of the ban will be doubled. .Parties try to figure out roughly to be taken in the future may increase the supply approach to gradually stabilize the market is awash with excess liquidity. .In addition, beginning May 30 after the big shock of investors leaving a deep lesson, but on Wednesday the creation of the largest and pound on the Merchants Bank warrants warrants, put warrants full big crash, and gave the market a lesson again .risk education classes, once again reminded investors not to underestimate the determination of the parties concerned and the means of regulating the market, the continuous rise of the market still kept a cool head. .</ P> <P> comprehensive analysis, regardless of whether it is really news of changes, the main body out of the previous high point of caution and take the initiative to take the possibility to retreat significantly, is the so-called step backward .Active retracement of the stock index will win to more upward maneuvers space. .</ P> <P> suspense II: trillion purchase today unfreeze funds, short-term market is to cover the gap, or the first high upside? .</ P> <P> Wednesday plunge in Yao City, whether there is news of change has become the focus of investor attention. .News of changes here could impact on the market, do a analysis. .If there is no news of changes caused by irrational speculation will naturally be retaliatory revised down, to open and expand the high intensity of the upside would be more reasonable. .If news of changes, such as by the worst case analysis, that if interest rates and other news really honored, the market has been repeatedly in the recent advance of the expected digestion, a lower opening may in turn is an excellent short-term buy low, sell to buy. .Overall, regardless of whether the news of changes in the probability of market rebound bottom are great. .</ P> <P> is worth noting that today's purchase of China's 1.2 trillion offshore funds will be unfrozen, regardless of whether there is news of changes in the market will stabilize and even the bottom are strong support effectively. .In fact, in the context of the bull market, a new record is up sooner or later, to a more healthy market in the future sound up, the gap near 4152 or better to cover as soon as possible, so you can eliminate the future upside of the multi-tape troubles. .Ideally, the trend to inertia to open lower today, down homeopathic cover the gap near 4152, so a more solid foundation of market upside, some investors can buy low, sell some quality potential of homeopathic stocks, best of both worlds. .</ P> <P>, of course, changes to the hot market point of view, as put warrants continuous decline, and Hing Fat Group, Anxin Trust such as the recent emergence continuous adjustment of individual stocks rose, some have not yet pulled the blue chip stocks sharply, .and some pre-cap, lower oversold, a certain sign of capital inflows, short-term compensatory growth has a strong desire to be some short-term investment opportunities. .No matter how the investment mentality, neither too optimistic nor pessimistic, more appropriate to maintain the sense of balance, after all, the bull market still has a long way to go. .</ P>.

Mainland residents to the sea 10 million threshold for investment in Hong Kong equities.

<P>: Http:// hearing, the State Administration of Foreign Exchange approved Tianjin Binhai New Area 20, to carry out domestic individuals invest directly in securities, after the pilot, a large part of domestic investors to invest directly in overseas markets showed strong interest, when .to account, "the sea" will become the most concern. .It is understood reporters yesterday, is expected in about two weeks after the mainland residents can apply for accounts, and direct investment in Hong Kong stocks threshold set at 10 million yuan. .</ P> <P> threshold of 10 million yuan </ P> <P> yesterday, is responsible to the Mainland to Hong Kong investment funds Huang Zhongwen, Managing Director of BOC International, said the bank has received many inquiries for mainland residents and investors .. .Huang Zhongwen, said Hong Kong stocks of direct investment in the Mainland individual admission is 10 yuan. .</ P> <P> Huang Zhongwen, said that while mainland residents within this month, the earliest direct investment in Hong Kong stocks through the pilot, but is temporarily unable to directly subscribe to mainland investors new shares in Hong Kong, the current pilot program to buy for cash only .outstanding shares have been listed, and does not set up overdraft financing. .</ P> <P> White, vice president of Bank of China International Research tough yesterday also confirmed that the above information to the reporter. ."It is understood that the initial pilot projects in order to reduce pressure on the bank's business, so the initial cost of entry-level opening set at 10 million. However, this threshold is indeed not too high." Bai Ren said. .</ P> <P> in about two weeks time can open an account </ P> <P> pilot program under SAFE, mainland residents have to go through Tianjin Binhai District Branch of the Bank of China to open foreign exchange accounts, and BOC Hong Kong Open .corresponding to the investment account, you can trade Hong Kong stocks directly. .</ P> <P> Bank of China, told reporters that the business initially known as the "through train", the specific operation of the program are in the pipeline is expected in about two weeks after the head office will be officially launched, will be open for account application .. .</ P> <P> the provisions of the Exchange Council, investors should be in the Tianjin branch of Bank of China to open a personal investment in overseas securities exchange account, and asked the Bank of China International Securities Ltd. in Hong Kong to open the corresponding securities agency accounts. .So, whether only the Binhai New Area residents will be opening it? .</ P> <P> SAFE stakeholders told reporters, in addition to the Bank of China Tianjin Branch, the Bank of China, the territory of the other branches of the Bank of China signed a cooperation agreement with Tianjin, the Tianjin BOC can also handle personal foreign exchange account opening and securities investment .collection of BOC International Securities Agent Account Application materials, which means that non-residents in Tianjin Binhai New Area can go to the local Bank of China to open account. .</ P> <P> whether the Internet can open an account issues, Bank of China said that it may be temporarily unable to do so. .He also said that the current Bank of China is actively internal coordination, the recent identification of specific measures will be. .</ P> <P>, however, to remind the industry of individual investors, the Hong Kong stock market and the mainland stock market is completely different, individual Hong Kong stocks if you want to direct investment, it is necessary homework in advance "homework." .</ P> <P> whether to expand the scope of the experiment is inconclusive </ P> <P> for some of the media, "Individual Foreign portfolio investment in Shanghai next step will be the pilot", a foreign exchange bureau official said, whether to expand the scope of the experiment .Binhai New Area will depend on effect of the decision of the pilot, currently there are no specific timetable. .</ P> <P> to 20 in the foreign exchange bureau in Tianjin Binhai New Area has just announced the direct investment in overseas markets to carry out personal pilot, yesterday media reports, personal pilot of foreign portfolio investment has been determined the next step in Shanghai, ICBC will provide .related services. .Even the media, said the SAFE pilot project next month will be extended to the country. .</ P>.

Body recommendations: bold holiday buying shares.

<P>: Http:// hearing, less and less trading day before the holiday, is buying holiday or short positions holidays? Buying holidays, how to vote to make New Year's peace of mind flies? .Select short positions, in case there is market after the holiday, Ta how to do? .I am afraid that many investors are whispered. .Courageous, a little faster pace. .Yesterday, Minsheng Securities analyst Xie Gang, told reporters that in 2007 the rest of the last three trading days, investors should adjust thinking, bold tickets. .</ P> <P> Xie Gang said that the current tape has been fully adjusted, the investors can no longer continue to wait and see attitude, thinking some time ago should be adjusted, buying positions. .In stock selection, Xie Gang said that the current tape showing significant signs of improvement, more opportunities, investors can select blue chips these days, do short-term rebound in the main, you can also buy some of the new funds to buy the third quarter .into the stock, which before the end of the year-end pull-up may be large, so the risk is small, stable income. .</ P> <P> if holding festivals, Xie Gang believes that investors may choose to have a retreat into the strategy. .Investors can focus on the consumer sector, pharmaceutical sector and paper type stocks, because these plates are pre-or not, the possibility of starting the festival a large, and real estate, banking and the performance of non-ferrous metal plate is too early active investors should .Choose from these sections out. .Paper plates of steel, especially value Xie, Xie Gang said, paper plate to benefit the greatest appreciation of the renminbi is one of the plates, the state shut down small mills in the leading enterprises of the industry is positive. .Moreover, the paper industry boom of the plate increased, especially in fine paper prices powerful, Xie Gang introduction, cultural paper is about 5,200 yuan per ton from last year has risen to 6,500 yuan per tonne now from top to bottom, or up to 25% or more, and, .spot must be cash, or even a paragraph and then line up for the goods first hit the case. .</ P>.

Quarterly reports of listed companies to disclose their bows for nearly 70% of poor performance

In Shanghai and Shenzhen stock as of April 28 total 1125 company announced a quarterly report from the net profit, excluding the incomparable factors, listed a quarter the net profit of about $ 923.47 billion, an increase of 9.23%, and full-year 2007 net profit year-over-year increase of decreased compared to approximately 35%, nearly 70% of the company's poor performance.

(Http://) and Shenzhen City total 1125 company announces first quarter 2008, the company reported a quarterly growth rate has slowed significantly. This statistical information in the data center, the main business income of listed companies achieve about 1.45 billion, an increase of 27.11%, and in 2007, the main business income 25.02% year-over-year increases of basic fairness. But judging from the net profit, excluding the incomparable factors, listed a quarter the net profit of about $ 923.47 billion, an increase of 9.23%, and full-year 2007 net profit compared with the year-over-year increase, decrease by approximately 35%.

In particular, if you remove a quarter net profits of the top ten companies, the remaining 1115 company net profit year-on-year growth rate was increased to 36.05%; if you remove this ten companies, 1115 company 2007 net profit up 54.53 percent.

These first ten companies created 376.87 billion net profit, 1125 company net profit 40.81%. Visible, the current market in both the profitability or profits of scale, is obviously to large companies.

Nearly 70% of the company's net profit growth slows

A quarterly bulletin of disclosed, 432 company net profit year-on-year reduction, 1125 company 38.4%, of which declined in more than 50% of the 220; loss of the company up to 144; there are 184 companies performance while the year-on-year growth, but growth is less than the overall market growth rate. This is, in the first quarter of this year decreased performance and increase losses, is less than the average level of the company totals total 760 company, has disclosed quarterly bulletin comparable companies house number 67.55%.

In addition to industry boom indicator is, the capital market of cold is also slower growth in net profit. A quarter of companies investment income only 21.7 percent, far behind last year's annual report data, and the significant decline in the fair value of also participate in the secondary market investments in listed companies and tasted the bitter pill.

Overall, a quarterly bulletin, 2008 listed companies: corporate earnings growth has slowed down trend; rising costs, declining profit growth is the main reason; investment income on the net profit contribution dropped significantly, and some companies even as investment result in losses.

All industries are not bitter

Published in the quarterly bulletin of industry data and statistics, integrated, real estate, information equipment, agriculture and forestry, animal husbandry and fishing and other four industry growth rate of over 30% growth respectively 91.8%, 98.98%, 39.22 41.67 percent.

Analysis shows that, due to the tightening of monetary policy affects a large number of real estate companies began selling real estate, settlement area has increased substantially, collecting funds commensurately. Agriculture, forestry, animal husbandry and fishing industry is obviously affected by a sharp rise in food prices, relevant listed companies begin to get the benefits of industry prosperity.

By upstream cost squeeze is obvious slowdown in industry growth rate. Utilities industry in upstream price under control, raw material prices rising dual factors, a quarterly net profit year-on-year decline 64.85%. The steel industry in the iron ore price rise, State-controlled dual steel exports, Q1 net profit up 20.69 percent, well below the average.

In fact, be a quarter of ice and snow continued appreciation of the Renminbi, disaster, and costs, and other adverse factors together, some facing cost pressures and product price regulated industries such as electricity, gas and water industry performance affected is large; the cost pressure is small, the relative bargaining power of industries, such as food and beverage, retail and wholesale industries growth relative stability.

In fact, in inflationary pressures increase, the industrial chain full enterprise and has a complete industrial chain of enterprises, can be expected to largely avoid and digestion upstream cost increase of the pressure, to enjoy the benefits of the downstream product price increases.

Fair value shrink profit erosion

Under the new accounting standards, the trading of financial assets will bring changes in net income. According to incomplete statistics, at the end of last year or the first quarter of this year have trading of financial assets of 80 companies, changes in the fair value of net income totals-17.17 billion. The company's first quarter net profit totaled $ 158.94 million, change in fair value of net income to net profit ratio 10.80%. A stock market declines, has affected the stock listed company's operating results.

For example, suchangchai in the first quarter of this year-over-year net profit down 26.15%. The company holds 10 million shares of Futian automotive as transactions of financial assets due to the fall in stock prices, resulting in $ 999 affecting their income. While Suchangchai in the first quarter of this year's net profit amounted to only 807.33 million investment losses accounted period net profit ratio of 123.74%! for the first half of the net profit the company is expected to be significantly lower than the same period last year more than 80%, the company's stock price is $ from 17.6 high up declined 59.15%. Market slump, the cross-shareholdings in listed companies of destruction.

P>

Sany heavy industry. In the first quarter of this year the company achieved operating income 26.64 billion yuan, an increase of 38.74%; excluding the new accounting standard for business enterprises, factors affecting a quarter of revenue growth compared with the actual 98.70%. But on the other hand, the decline in investment income also let the company into a "not increased profits". Quarterly Bulletin, Sany heavy industry a quarter net profit fell 3.03 billion yuan, an 17.41%. Especially given the first quarter of the stock market downturn, the reporting period, changes in fair value gains and losses over a decrease in investment income of $ 1.09 earlier 0.85 billion.

60% of companies reported increase in advance

As of April 28, a total of 384 company publication notice of interim results this year and is expected to report results in the growth of the company accounted for 60% of the total number of advance notice, in advance of the company covers more than reached 13 per cent. Enrichment are mainly from machinery, chemical industry prosperity within the plate number, but the majority of pre cut company was frustrated with exports rising costs and other factors.

Review the 2007 interim results forecast can be found at enrichment company accounted for 54%, minus the company accounted for 7%. Contrast, although the proportion of enrichment company have slightly improved, but reduced the company's ratio is increased. A study of people think that this reflects the economic situation of the companies reached profit cycle of vertices.

Statistical data show that the disclosure of interim results are expected of listed companies, enrichment of 225 companies, from 49, projected earnings of 52, expected loss of 54 home, not sure of the company there are 4 family. Enrichment of the company, 50 companies of the increase of more than 100%.

225 family enrichment on the company's statistics indicate that the machinery and chemical industry appeared 30 enrichment company, pharmaceutical biology and building materials industries also appear 15 enrichment company; and utilities and financial services industry are only 2 and 1 family enrichment, precisely reflects the industry currently faces a number of negative factors.

From the breakdown of industry, machinery industry of enrichment company mainly occur in the transmission and distribution system, electric automatic control equipment, engineering machinery, etc. If the performance is expected in the first half of jinfeng science grew 60%-90%. The main reason is to benefit from the company's main business market demand, orders, production and sales growth. Changzheng electric also anticipates that the January-June, realized net profit year-on-year growth of 300%. The main reason is the company stepped on high-voltage, medium voltage products production and marketing efforts, some of the new product sales effective amplification, product sales revenue and profits to keep good growth trend. But since last year, all the way to sing "," chemical industry, chemical materials, fertilizer, pesticides and other companies in the digital economy.

Vigilance is, most pre-reduced company performance to involvement in snow and ice hazards, frustrated with exports rising costs, in particular, petrochemical, light manufacturing, tourism and catering services for the textile and clothing industries, has obvious face disadvantage. Rising costs and export difficulties probably won't make too many company appeared performance decline, but earnings affected by extrusion, performance slowdown is not reality.

Earned 36 million storm: Buffett also unlikely to rural old woman whose neck.

<P> Will be listed on the GEM Huaren Pharmaceutical Although the stock has not yet listed, but its largest shareholder, "Jian Lou," the story of wealth in the stock market recently has been passed in order to "story." .</ P> <P> The first is the actual control of the company who Liangfu Dong "Jianlou" employee shares of company employees earn 89 times more violent. .In 1997, the controlling shareholder of Golden City Huaren Pharmaceutical Co. (formerly Wah Yan century) on behalf of the group total of 302 union employees of the company transferee 7.135 million yuan of investment, in that 302 people, Liang Fudong invested 2 million, the remaining .301 Total capital 7,115,000 yuan workers. .However, in September 1997 to January 2001 period, more than 301 employees because of "The Golden City are not optimistic about the prospects for industry", one after another of its investment in accordance with the original price (per 1 million) all transferred to the Liangfu Dong, Liang Fudong so violent .earned 89 times. .</ P> <P> However, as Liang Fudong the actual controller of the company, this "Jianlou" the good nature fail to get "outsiders." .'d "Outsiders" - home address, Jiangsu Province, Rugao City, the text of the original Town Village, a seventh group of 50, 65, of rural Granny Ma Mingli "Jianlou" has become the fourth largest shareholder of Wah Yan medicine, less than two .6 times in the story of violence Gengrang make investors relish. .October 30, 2008, a natural person named on the fly medicine it holds 300 million shares of Wah Yan 2 yuan per share price of the transfer to the Ma Mingli. .The medicine according to Yan issue price of 13.99 yuan, Ma Granny less than two years of violence in Huaren Pharmaceutical earned nearly 36 million yuan, up 599.5 percent rate of return. .65-year-old horse old woman thus becomes a "stock god", or even Warren Buffett is also unlikely that even the back of the neck, and some investors even imagined such good fortune when it comes to their own body. .</ P> <P> In fact, investors need not obsessed with the "Jianlou" Granny's story. .The myth of the rural old woman to make money, where the majority of investors, it is only a legend, not only can not be met, but not make, investors face the probability that a good thing, as the sky out of gold, and despite their falling into the .your home's courtyard, and that it might happen? the horse Granny's "Jianlou" behavior, not an ordinary investment behavior, not you and I can do things mere mortals..

Stock considered buying opportunity QFII additional investment in China's stock market

According to friends huatai fund management co., Ltd., an internationally renowned institutions following the QFII early April this year subscription youbang huatai prosperous China Fund, the Fund recently open requisitions, again the additional investment of the Fund. Professional analysis, current better market investment opportunity and recent performance of the Fund is to attract additional investment QFII.

China A-share market in the early fall, lower earnings and China's macroeconomic momentum highlighted many good investment value stocks. Industry noted that this kind of confidence in support of the QFII will stock market weakness of being treated as buying opportunities, investment in equity funds. The analysis finds that direct investment in equity QFII Fund can overcome its access time is short, on China A-share market didn't understand and grasp the future stock market revenue opportunities.

As of the end of 2004, QFII in China stock market with total assets of $ 163 billion. And 3 years ago when compared with caution in the city, entering in 2005, the performance of the QFII quite positive, and his "take advantage of the momentum of the low" more violent zengcang. In addition to frequent flow of shareholders in listed companies appear, purchase merit QFII recently keen, subscription of stock fund shares and barn closed-end Fund has become a well known fact. Stakeholders indicated that 2005 will be QFII unprecedented investment in "thirst", the amount of the QFII needs may exceed two years before the total amount of investment.

Shi Zhengrong, China's new richest man employed on Wall Street.

() Message: August 8, Wuxi Suntech Power Co., Ltd. Chairman and CEO Dr. Zhengrong Shi, officially employed as the New York Stock Exchange, "International Advisory Board" member, which is the only mainland China was hired as the NYSE International .entrepreneurs, consultants, and its members is only 30 people worldwide..

Pharmaceutical sector: "Xinfu" crisis and promote the industry reshuffle.

Benefit consumers upgrade <P> sunrise industry </ P> <P> Medicine huge impact on human life makes it the industry's high growth and high yield characteristics are very prominent. .Within the pharmaceutical industry is the world's fastest growing industry, and even Warren Buffett is fond of them. .With the people's living standards improve and the demand for health care is growing, China's pharmaceutical industry has maintained a rapid pace of development. .As a typical sunrise industry, the last five years the average annual growth rate of 18.7%, compared with average growth of GDP, a full 11 percentage points higher. .During the Eleventh Five-Year the same time, the Government will continue to increase health sector spending, improve public health and medical service system. .Deepening the reform of health system, the rational allocation of health resources, rectifying the pharmaceutical production and circulation order. .Therefore, the pharmaceutical industry in 2006 will continue to maintain our rapid growth. .Not affect the stability of macro-control market </ P> <P> 7 monthly statistic data show that China has not slowed down credit growth, macro-control delay. .Many industries are affected and occurred in the consumption of drugs the pharmaceutical industry is a rigid decision aperiodic consumer goods industry, can effectively avoid the negative impact of macro-control. .Therefore, a large number of cyclical industry profit growth rate decreased significantly in the background, the performance of the pharmaceutical industry is expected to maintain steady growth, while the M & A and industry alliance will enhance the appearance of industrial concentration, the pharmaceutical industry, increase sales and rapid growth. .Reflected in the secondary market, pharmaceutical stocks section will appear to attract risk-averse funds and the outflow of funds from a cyclical industry, come to the fore in many cyclical industries. .Well-known pharmaceutical companies to enhance the status of security crisis, with the recent "Let the two drugs" incident, Anhui Huayuan the "Xinfu" incident to light, frequently burst out of the medical scandal has sparked concern about drug safety, the public pharmaceutical enterprises .rapid decline in trust in a short time has become an inevitable fact. .In order to avoid possible damage caused by poor quality drugs, patients are often more inclined to use with high visibility and market share, but no adverse rumors of drugs, therefore, drug safety and frequent accidents on the pharmaceutical industry is a crisis, but for large enterprises .is the opportunity for development. .We recommend investors look 000538G 600771G cloud Baiyao and Dongsheng. .</ P> <P> G cloud Baiyao (000 538): The Government of Yunnan Province as the key support of 10 pharmaceutical companies list. ."Yunnanbaiyao" trademark was identified as the well-known trademarks, and subject to national laws on the protection of famous trademarks. .Our main products are included in the "national basic medical insurance and industrial injury insurance directory of drugs." .The company's power comes from the price increases over the past decade the company has repeatedly Baiyao unique product efficacy and can not be copied, because both processes are owned by the state or the top-secret recipe, secret Yunnanbaiyao two countries one of a class of medicine to protect species, " .Yunnanbaiyao "is a registered trademark. .Therefore, the company's profitability will be protected. .To implement "stable central, sudden wings (million)" strategy, increase the focus on Yunnanbaiyao cream + Yunnanbaiyao Band-Aid, Yunnanbaiyao focus on the promotion of toothpaste, creams and toothpaste products achieved sales of more than billion in revenue. .In addition, the company has started first-aid kit items, surface friction and other projects, have a billion dollars of market expectations. .The long term, the company developed 17 kinds of Chinese medicine in the new growth will be the driving force. .In 2006 the first batch of innovative enterprises selected for the pilot. .Company good quality, performance and stability, since the delivery of 94 every year since high dividends. .2001-2004, an average of 2.64 yuan per year to send up to 10. .High growth the company has become institutional Shigekura varieties, bargain-hunting investors attention. .G Tung Shing (600771): Main in western medicine and the production and sale of biological products, in the genetic engineering drugs, narcotic psychotropic drugs, traditional Chinese medicine system of varieties of the West, OTC products, nutrition and medical treatment of type large infusion of six e-commerce .field strength. .G Dongsheng's brand development and marketing of fruits. ."Gaitianli", "Diosgenin tablet", "white", "Dongsheng" ... ... and other brands have a higher visibility, leading products, "white with black" is the famous cold medicine known domestic brands, countries to strengthen .rural cooperative medical system and urban sanitation and epidemic prevention system construction will make substantial growth in market demand, general medicine, G Dongsheng necessarily benefit. .G Tung Shing Tung Shing Group is the largest shareholder of the flagship, Tung Shing Group, in the capital market in recent years, together with cross from the rapid expansion, has acquired Qinghai Pharmaceutical, Jiangsu Qidong Gaitianli, Qinghai Bao Jian Tong, Shanxi Yu Guang Yuan ., Hubei Qianjiang Pharmaceutical and more than 20 pharmaceutical companies, but if they can not digest the acquisition of continuous funding crisis will bring. .So the end of 2004, Tung Shing Group holds 49% stake in China's pharmaceutical industry has successfully overcome the other large state-owned China Resources Group Ltd. snatch Yunnan Yun drug control, the intermediate holding cloud Baiyao, the Tung Shing Group announced the acquisition of 5 years to stop, turn .into the internal phase of industry consolidation. .Integration of money demand due to the Group, Shing Tung Shing Group G may be to integrate existing assets, sell some brands or the introduction of strategic investors. .Market was spread Bayer will acquire G Dongsheng's "white with black" and other brands of rumors, according to industry analysts, the possibility is very high. .The formation of red in the Japanese K Line combination of the three soldiers, the stock today shrinkage finishing, cleaning Fu Chou, remained upside shape, the market outlook is expected to accelerate upward, investors can take an active interest. .</ P>.

Bull distribution of "red envelope" the first stock index over 3,000 points.

<P>: News, yesterday, Shanghai and Shenzhen Tiaokonggaokai, Shanghai is one stroke over the 3000 point mark, opened at 3018.18 points, after the shock started around 3000 points, to 3036.35 points intraday Mogao, Yao City .has dropped slightly, to close at 2998.47 points Zhong Pan. .</ P> <P> Looking back in history, Shanghai Composite Index rose to ten and spent the first three years, rose to the second thousand points are used for 8 years, now is the point of the third millennium, it took 7 years .time. .Upon completion of this historic leap, the majority of shareholders hope that this is a new starting point. .</ P> <P> the stock market survey on Sina.com showed that in 3000 after breaking with 45.41% of the respondents believe that investors will continue to maintain the rising trend of the stock market. .With 53.35% of the respondents said investors are now full of warehouses, only 17.5% of the people currently short positions, analysts believe that this shows the confidence of the majority of small investors are still holding strong. .</ P> <P> expectations of institutional investors relative calm on the broader market, more than 72% of them look flat, while more than 27% of the institutions to see more, there is no body to see empty. .</ P> <P> Century Securities analyst, said the party Wei Sun, A shares continuously hit new high, it is not accidental, because since last year, the surrounding area are out of the strong stock market, many also hit a new high. .In addition, from May and November last year, before and after the holiday performance, basically Tiaokonggaokai Festival, out of the side of the stock market rise. .However, the Reconfirmation party analysts believe that May and November last year during the hot market prominence, both started around the blue chip market. .Spring Festival this year, the market has been more on the 3000 points, hot spots have gradually toward multi-polarization. .Therefore, the middle of the Hong Kong Festival holiday market depends on the performance of the stock market, of which we should be most concerned about the state-owned shares of plate, if the steady upward trend of the plate, on the A shares after the holiday should have positive impact. .</ P> <P> Bin Xu Guotai Junan that high above the index is still feeling a little lonely at the top. .This result made us have three reasons: First, the current price-earnings ratio of the market dynamics point of view, Shenzhen and Shanghai has 40 times the average PE, this has been relatively high valuation levels, from the variety of operational point of view, .heavyweight, blue chip stocks, underperformance stocks, loss of shares, stocks, warrants, closed-end funds, and all hype cycle shows that the broader market has accumulated a great deal of risk. .Second, two days before the UBS issued a research report also indicates that the current capital market of Hong Kong began to have signs of withdrawal, the Chinese concept of equity funds suffered the second time this year, net outflow of funds. .Shows the flow of global capital is not yet very clear, therefore, we can see there is still some market funds face the hidden dangers. .Third, the fundamentals is not clarified, although the CPI to fall, but the central bank to raise interest rates before the attitude is to observe the operation of 1,2 month data before deciding whether to raise interest rates, so the question we raise interest rates .can not jump to conclusions. .</ P> <P> same time, the stock re-approaching 3000, the previous approximation of 3000 if there is a bubble, now the bubble is still there, so investors still need to guard against market fundamentals and the sudden change in public opinion, which is faced by the broader market .risk factors. .With the gradual push index, investors must not blindly chasing the high, the market there is still more uncertainty. .</ P> <P>】 【stock market read the tape </ P> <P> hype leading car washed three thousand shares </ P> <P> Zapan Yao City index stocks index down </ P> <P> .undertake rally the day before, multi-again short squeeze, before the last day the two cities opened, most blue chips are there Tiaokonggaokai, forcing Stock Index opened higher, stock index opened over three thousand points the critical point. .However, due to the psychologically important thousand points to make fear of heights are ahead of the game, and the weight of index stocks open higher after almost no contribution, there consistently push down slightly, causing some cash offer to sell the farm to leave. .Therefore, resulting in front all the way down all morning market index. .Fortunately, here in Shanghai car plate car, the Chinese heavy truck, driven by FAW Car, etc. soared across the board, auto sector as a whole have more than 8% increase. .Short of the market momentum of this block, second-line blue chips led by the automotive sector, there have overall rise, making the stock began to rise up again after the morning session at 10:30. .The ordinary shares of the overall market rally after a good, deep led the KLCI to maintain position close to the morning market, already the first deep KLCI hit a new high. .The resulting market to do more great enthusiasm to motivate, market activity has been hot, show investors expect on the Festival there is a good market. .</ P> <P> news of observation, the central bank issued the health of the financial report in January that the main characteristics of financial operation in January, the broad money M2 growth has slowed, an increase of 15.9%, compared to last year by 3.3 percentage points; narrow .money M1 increased rapidly, up 20.2% over the same period last year, 9.6 percentage points; RMB loans increased by more; savings deposits growth rate continues to drop, enterprises demand deposits increased significantly. .Analysts believe that in January the growth of M1 and M2 change and later the Chinese New Year holiday period factors arising from the base, but also with market demand and abundant amount of money has a lot to make short-term performance of the demand for money M1 continued climbing show .conditions. .</ P> <P> from the rear section from the morning session, all the blue chips began to recover the uplink. .Afternoon, all the blue chips continue to rise slightly upward. .Industrial Bank, the financial stocks began to pick heavy volume rose, thus driving the blue chip index picked up and pushed. .Afternoon preceding market is a thriving scene, many stocks appear heavy volume buying attack. .But in the end is the last trading day before the holiday, falling behind can be secured psychological field got the upper hand, and the rest by the end of a very public in advance, some stocks were not actually involved in the scattered units of the master push. .To the afternoon two, heavyweight China Life, ICBC, BOC and other skills once again performed by disk, pressing slightly lower under the stock shocks, the field appeared again in the cash tray, so that a shock downward trend in stock. .But in fact turn the T +1 system of cash in the market yesterday, not to mention now. .The Yao City, so sell into heavyweight induced only in diving again. .The last 5 minutes of China Life and ICBC Zapan bad acts, so far flowed Shanghai Composite Index closed below 3,000 points, while the Shenzhen Component Index due to Salt Lake Potash, China's heavy truck, deep Vanke, such as Yao City Wuliangye .Zapan and turn green. .</ P>.

<Shanghai Stock Exchange Equity Index Management Rules> release.

<P>: Http:// hearing, the Shanghai Stock Exchange, 18, announced that in order to strengthen the operation and management of indices, the SSE of the "Regulations of Shanghai Stock Exchange Index" was revised and renamed as "Shanghai Stock Exchange .Securities Index Management Rules ", and promulgated on October 19. .</ P> <P> Click to view>>> Shanghai Stock Exchange Equity Index Management Rules (full text) </ P> <P> this "rule" is based on "Securities Law", "stock exchange management .methods "and" Rules of Shanghai Stock Exchange "and other relevant provisions of the enacted series of index cards for the preparation of the information and use of the SSE and other securities index. .</ P> <P> SSE SSE Series index refers to the preparation of or authorize the preparation and release, with the name "Shanghai" in the stock index, including but not limited to the SSE Component Index, the Shanghai Composite Index, SSE .index, the Shanghai fund index, bond index on the card. .SSE according to market needs, determine the Shanghai index series and the creation, change and repeal. .</ P> <P> under the "rules", is responsible for the Shanghai SSE Index series study design, preparation of publishing, advertising services, business operations such as index management work. .Necessary, the SSE may authorize other agencies undertake the work. .</ P> <P> compiling the index card index series can be set up expert committee, the index of the expert committee on the index methodology and rules for the operation and other related matters for consultation, deliberation. .</ P> <P> authorized agencies, according to the SSE or SSE Index series of features on the card index of the development of specific methodology, and methodology needed to adjust the index. .Transaction information compiled by the SSE index, subject to the SSE or SSE authority permits, and sign the related license agreement. .SSE or SSE authority without permission of any organization or individual shall not use information on the preparation of the SSE Index. .</ P> <P> SSE Index series for all relevant rights and interests owned by the SSE, the SSE index series using real-time values, constituent weight and the use of the card series index-related development index and other derivative products, subject to the SSE .SSE authority or permission, and sign the related license agreement. .</ P> <P> SSE and SSE authority to safeguard the Shanghai index series and related data timeliness, accuracy and completeness, but do not assume any index and its related causes data corruption ., omissions or errors to the data using the index and its related organizations or individuals losses. .</ P> <P> "Rules" Since June 19, 2007 onwards. .July 8, 2004 "issued by Shanghai Stock Exchange Index Management Measures" shall be repealed simultaneously. .</ P> <P> Click to view>>> Shanghai Stock Exchange Equity Index Management Rules (full text) </ P>.

Potash Makers of "privately" compensation shareholders? Crazy warrants continued.

<P>: Http:// News, "banker" from the back half of the profits investors dig? .</ P> <P> K put warrants (JTP1) destined to be difficult to be forgotten. .It's wonderful, is not rising nearly 9 times a few days after the madness, but rather, it is the only one so far has not become waste paper in the curtain call at the put warrants. .Even more surprising is that seems to be the conscience of the main final, let investors still on the last day or on foot have the opportunity to make money. .</ P> <P> ● the first zero of the put option is not </ P> <P> on Friday, is the K JTP1 (038008) the last trading day of happy onlookers waiting to see a good show .- the price of potash JTP1 finally hit 0.001 yuan. .In the "5.30" 18 trading days since the crash, had reached the highest price potash JTP1 8.05 yuan, four days rose to 858%. .But the Bo silly game, the time has come to an end. .</ P> <P> often put warrants with the exercise value of the approach to the gradual return of potash JTP1 will be June 25 to June 29 exercise. .Vesting period, the investors, if exercised, is equivalent to the price of 15.10 yuan per share, put warrant issuers to sell shares Salt Lake Potash, and Salt Lake Potash latest closing price of 45.21 yuan, the exercise can only mean .a huge loss, K JTP1 doomed to worthless. .</ P> <P> However, the strange fate of potassium JTP1 destined to run through the finish. .Trend of the last day of potassium JTP1 wonderful day turnover reached 1,741.2 percent in the morning was over 70% gain in the afternoon continuous diving, can ultimately close at 0.107 yuan. .</ P> <P> a record the resulting, K JTP1 is the first of the final price of 0.001 yuan higher than the put warrants. .Until yesterday, there are investors in chatting about this matter, she wondered to a reporter asked: "Who is so foolish you say Yeah, actually would still warrants holding a K?" </ P> <P> ● "market maker" with " .half of the profits "treat? .</ P> <P> did was "silly" and is likely to be making, he seems determined to the day when the end of potash JTP1 philanthropist. .</ P> <P> 10:34 on Friday, at a site on the K JTP1 the "post it", the article entitled "To all K investors," the post of the concern. .In this post, marked red font conveys a message - claiming to be K JTP1 "banker" who posted that investors retreat, and he will pick up orders and warrants support, who vowed not to sit back and Warrants .civilian speculators who lose everything. .</ P> <P>.