China Stock Market Research: April 2011

Monday, April 25, 2011

Billion QFII holdings soared in the first quarter.

QFII's influence and global perspective in the first quarter of the equity investments is no doubt in the expose. . WIND information of listed companies under a quarterly statistics, QFII holdings in the market value of the first three months of this year rose nearly a hundred billion, or more than 7 percent, as the quarter and the biggest Masukura .Masukura the largest amount of investment groups. .This clearly explains the A-share market in the first quarter of this year a large scratch "QFII Cyclone," the reason behind. . Masukura significantly improve voice the end of the first quarter of this year, QFII top ten shareholders in a championship held quarterly market value of A has more than 18.3 billion yuan, beyond the domestic securities .companies, the social security funds, insurance companies and other institutions group, to become the second largest venue A stock market investment groups, after the public fund. .While taking into account the potential positions outside the top ten shareholders, QFII actual holdings much more. . influence from the market point of view, investors apparently more critical Masukura lighten up. .In this indicators, QFII overwhelmed other investment groups. .This may explain why the QFII was occupied at the beginning of the market "discourse." .WIND information on various types of investors, according to lighten up by statistics, QFII market value of the first quarter increased by 8.0 billion shares, accounting for the full market value of the ratio of the market increased by 0.54%, ranking first. .In the first quarter, the public offering market value of the Fund's shares dropped by nearly 10 million, net of index rises, the Fund's market share plummeted nearly 10%. . global vision called the main line specific positions from the QFII, the global perspective and with Chinese characteristics into the main line, the blue chips are still the favorite, QFII obvious characteristics of long-term investment. . taste as a reflection of current QFII, QFII holding the highest percentage of outstanding shares of the stock fully reflects its global vision and concern about the valuation of shares of AH. .Statistics show that, QFII holding the highest percentage of outstanding shares of stock is 5, G Anshan Iron and Steel, G conch, G Longxi, Tsingtao Beer and Yanjing Beer. .With the exception of G Longxi, the remaining four are two companies listed on the AH. . season QFII biggest stock holdings reflects the QFII is the choice of the future. .Qingdao Beer, G Longxi, G Tianwei, G Anshan, in gold stocks as gold 5 QFII holdings of the highest proportion in the first quarter of the stock. .Obviously, beer, auto parts, new energy, steel, nonferrous metal fit hot and relying on a huge global market shares in China become the new darling of QFII. . new body esteem concentrated position public information also shows some new, substantial Masukura QFII, a significant overall QFII Masukura the main driving force. .While the new QFII still the focus position as the main investment model, but its approach is more radical. . data show that, when the quarter, mostly from ABN AMRO Masukura QFII's investment in Nikko, Fortis Bank, the Gates Foundation, the Martin Currie, the Singapore investment agency, of which the vast .Some institutions are in the fourth quarter and the first quarter of this year, get the new QFII quota, or the recent New institutions. . these institutions for the A share market was significantly higher than the taste of a wide range of established institutions, it is clear and its A-share market and the increasing number of the relevant exchange. .Among them, the Fortis Bank and Singapore investment Shigekura G Tianwei, Nikko Asset and Dutch banks are heavily loaded with gold in gold holdings of the Gates Foundation a quarter of the Tsingtao Brewery 10.47% of the outstanding shares, Deutsche Bank, winning wide .Boat International 6.21% of the outstanding shares, have called generous. .The performance of the stock apparently showing new features. ..

Securities and Exchange issued new rules for T +0, the gate opening margin.

IPO inquiry system will make major adjustments.

China Securities Regulatory Commission announced yesterday a "securities issuance and underwriting management approach," the draft shows, IPO Inquiry program from four major adjustments in the mechanism for further inquiry on the basis of norms, the securities issuance process .shortened significantly. . "management approach" focuses on the IPO of the inquiry, and other aspects of pricing and placement were standardized, four aspects will be a material adjustment to the existing inquiry process. . First, the SME board in Shenzhen Stock Exchange listed company, the initial inquiry through direct pricing, the issue of small and medium enterprises will be reduced 4 days. .In the Main Board listed company must go through a preliminary inquiry and accumulated bidding price inquiry in two stages, no longer mandatory for all companies go through two stages of inquiry. . Second, under the net total of the current bidding mechanism with the online purchase step by step adjustment, the provisions of the offline subscription simultaneously with the online purchase. .The institutional arrangements with the Hong Kong market, the same public offering process, distribution process than the current procedure can be shortened two days, the A shares, H shares issued by companies with simultaneous set prices, while listing is very important. . inquiry is to require all three objects can choose whether to participate in the initial inquiry, consignee may not refuse to participate in the initial inquiry inquiry objects; not involved in the initial inquiry and the inquiry objects offer an effective, .shall not participate in the tender inquiry and accumulated under the placement. .After the initial inquiry, the inquiry objects to provide an effective offer less than 20 (the number of public offering of 4 million shares of stock over the inquiry objects to provide an effective offer less than 50), the issuer and the underwriter shall determine the issue .price, and distribution should be discontinued. . which is conducive to enhancing representation of price, the market will help strengthen the constraints on the issuer. . Fourth, the provisions of the company IPO issue size of more than 4 million shares, the stock can be rationed to strategic investors, subject to holding lock for 12 months or more, no holding period after release .limit the number of shares shall not be less than the number of shares outstanding by 25%. .This is conducive to attracting long-term incremental funding into the stock market, investors will help to improve the structure, and help alleviate the financial pressure on the market, stability, investors expect a smooth distribution of large capitalization stocks listed on an important role. .Also, you can use "over-allotment option (green shoe)" mechanism. .Prior to the Commission with reference to the specific implementation of the release of "over-allotment option pilot views." . "management approach", the lead underwriter's own business may not participate in the inquiry in this issue of shares, offline and online issue of the Placing; lead underwriter collective asset management, securities and other investment products management plan .can participate in the online issue, but shall not participate in inquiry and rationing. .Existence of the issuer or underwriter with the actual control object relations inquiry shall not participate in this inquiry issued shares, offline placement, you can participate in online distribution. . "management approach" also defined the relevant inquiry objects proportion of the stock placement, public offering of 4 million shares the number below, placing the number should not exceed 20% of the total issued; on 4 million shares .above (with 4 million shares), the placement should not exceed the number of placements to strategic investors, the number remaining after the release of 50%. . "management approach" from now on till 15th of this month to the public for comments. ..

A first time in more than fifteen trillion market value.

Hearing, according to http://, Shanghai and Shenzhen stock market yesterday, opening to go, speed up the rise, the Shanghai index broke the 3,700 point mark, the highest point of 3710.89 to close all day, up 126.69 points, or up to 3.53%, reaching record highs .; Shenzhen Component Index closed at 10,685 points, up 426 points, or up to 4.16%, also reaching record highs. .Total turnover of 290 billion yuan between the two cities. . experienced a crash last Thursday, the index rose sharply for two consecutive trading days. .The Shanghai Composite Index rose 261.87 points in two days, or 7.59%, Shenzhen Component Index rose 827.83 points two days, or 8.4%. .Index has also brought a sharp rise in the rapid growth of the market value on Friday and Monday, two trading days, the two cities A total stock market value increased 1.0888 trillion yuan, to 15.0555 trillion yuan. . from the flow of funds perspective, most of the flow of capital cities yesterday, steel, electricity, finance and other blue-chip sector. .Market analysts believe that the amount of days from the transaction can be seen, is continuing influx of outside capital, while the new agency, they not only pay attention to price margin of safety, but also for the future strategy for stock index futures to do so, with .leverage additional funds in the sought after blue chip under the repeated rise. .In addition, a full quarter after the release, A shares of corporate earnings growth may fall, and the current index point and takes a long time to digest, investors may show relatively large fluctuations, and thus from the level of earnings growth and valuation point of view, .the mainstream of the broader market segment is still valid haven. . yesterday, the Commission issued three documents on stock index futures, stock index futures for the introduction of further paving the way; deputy general manager of gold in the Hu administration has also made it clear that "the stock index futures preparations near the end .. " .Stimulated by the news, futures, stocks of collective strength, Mailyard, the large share limit, Hong Yuan Securities rose 5.3%, Hong industry shares rose 4.6%. . brokerage stocks yesterday's performance is quite eye-catching. .Haixin, Huamao shares Wenergy electricity, East business, Xiamen States Mao, Lan Health Shares, COFCO Property, Younger and other brokerage stocks more than 10 mass limit only. .The view from the drop list, ranks among the top are mostly sought after funds some time ago and some themes ST class cap, lower stocks. .(Chen Xia) .

China's securities market into a giant gold affection overseas Chinese.

Hearing, according to http://, April 25, the Commission announced "a foreign stock exchange representative offices in China Management Measures (Draft)", the official management approach will be after the May 10 launch. .This indicates that the major overseas stock exchanges is expected to put down roots in the mainland! In overseas stock view, China is gradually developing the securities market is like a gold mine, and numerous fascinating wealth of listed resources. .The introduction of draft, so that these overseas stock exchange finally have the opportunity to develop this sense of the word gold. .With China's rapid economic development and the growing strength of Chinese enterprises, many more emphasis on overseas stock exchanges in China. .In 2007, along with the hot stock market in China, listed on overseas stock exchanges competition for resources in China is also heating up. .April 25, the Commission published "Foreign Exchange Administration of Representative Offices in China (draft)", the official management approach will be after the May 10 launch. .This indicates that the major overseas stock exchanges is expected to put down roots in the mainland! In overseas stock view, China is gradually developing the securities market is like a gold mine, and numerous fascinating wealth of listed resources. .The introduction of draft, so that these overseas stock exchange finally have the opportunity to develop this sense of the word gold. . "Chinese elements" cause attention at 21:30 on April 3, the world's largest electronic stock market - Nasdaq opening bell ceremony will be moved to China. .To celebrate the 40 Chinese companies listed on NASDAQ, and to meet more outstanding representative of Chinese enterprises to lobby for its Nasdaq listing. .April 4, Nasdaq announced in Beijing that Nasdaq will launch China Index, from the second quarter of this year in the United States to track the performance of listed companies in China. .At the same time, the Nasdaq also announced the formal appointment of its chief representative in China Xu Guangxun, replacing Lauren Greenspan had left, and the personnel changes in the Nasdaq is considered a strategic adjustment of the Chinese market. .It should be said that this is the Nasdaq last year, "hostile takeover" missed the London Stock Exchange, in order to fulfill their dreams of 24-hour trading market made another effort, but also since last year as major overseas stock exchanges .compete for more market share and set off a wave of merger integration war sequel. .In other words, the major overseas stock exchanges is a clear understanding that: the 21st century who has mastered the "China element", will win a more splendid future. .Major stock exchanges in Europe and America are busy fighting for the occasion of the site, they also understand that in order to become 24-hour trading place, existing exchanges in Europe and America alone is not enough, must be synchronized to create a package in Asia .exchange Caixing. .Moreover, for a global exchange, the only first-class electronic trading technology is not enough, more critical to have good resources listed. .To accomplish this, we must develop excellent Chinese enterprises listed resources. .Market in the world's largest 18 exchanges in Asia accounted for the 8, but in the global capital transactions account for only a small part of the Asian region. .With the revival of Asia, especially China's economic rise, the Asian capital market entered a new world of rapid development. .According to statistics, in 2006 first raised the issue of the Greater China region, the average size of the first time in Europe and America, only in the Hong Kong main board market scale of the first issue raised over the New York Stock Exchange. .The largest in Hong Kong, raised 10 times the first issue, there are eight companies from mainland China. .To raise funds, Hong Kong is the world's fourth and first in Asia, two thirds of the funds absorbed by the Chinese mainland enterprises, Hong Kong Stock Exchange has become the best company in Mainland China the first choice of listing and financing. .And since 2005, with the smooth progress of the share reform, the Chinese stock market out of slump up to 5 years, entered a new era of rapid progress. .At the same time, China's stock market resumed issuance of new shares issued and the old stocks, a group related to the people's livelihood, "carrier class" companies have landed in the market. .In particular, along with "A + H" of the simultaneous release, simultaneous listing in Hong Kong Stock Exchange and Shanghai Stock Exchange to achieve a "win-win" scenario, in the global capital markets has stirred up a wave of "China's whirlwind .. " . .

A unit of plunged 75 billion market value evaporates four conjecture

News: http://, July 20, A-share market has risen to the regulation, surpassed the prior-high point, however, enable the market to the market in the current round of inflation almost no adjustment, not to mention, the Shanghai composite index last station 4300 points of shadow also here. Thus, the suction confirmation to become market at this point the better choice.

Under the influence of external markets plummeted, and the Shenzhen Stock Exchange stock index into means of yesterday in financial stocks fell down plunge 3.81% respectively and 2.66%. Close, two city into a share of over 80, total turnover is in the panic weipan zoom in to 2688 Yuan.

According to exchange the latest data show that as of market close on Wednesday, the Shanghai market as 147916 billion, circulation market value 42626.2 billion; total 43685 in Shenzhen, circulation market value is $; two city 21968 total 191601 billion, reduced 7590 billion on Tuesday.

Short-term gains too quickly

July 20 to Tuesday's short eight trading day, stock index and the Shenzhen Stock Exchange into means of rose 14%, respectively, and 19%. In the course of the entire price, the market is not only not appear once in the true sense of the adjustment, also in the market at the beginning of the stay a jumped vacancies. As a result, analysts point out, the market needs in a continuous rise after digestion, floating discs inherent adjustment requirements, yesterday's decline remains normal. But, in the peripheral market fell under the influence of yesterday back to pumping slightly "too".

United States affected by the subprime mortgage problem caused by the influence of the "domino effect", the global stock markets plunged in the Dow Jones index company, along with the recently have dropped considerably. Yesterday, the Hong Kong Hang Seng index closing 22455, plunge 729.58 points. Nikkei 225 stock average index, Korea and Australia stock market yesterday close respectively fell 2.19%, 3.97 3.2 percent.

However, the analysts, A stock market and the peripheral market linkage does not currently, in order to explain the decrease in "yesterday to head" is clearly insufficient. Get to the bottom of which may lie in the market. Debang securities analyst ancient Jingdong told reporters that many customers yesterday's response are more panic, they thought is, "the last bounce didn't run away, this time to run" anyway. Clearly, although stock index hit a new high, but remember stock index last station 4300 points, the Minister of Finance announced increases in stamp duty late at night, in the heart of the market and not at ease.

Incentives or to trigger the five Chinese "liquidity black hole".

: Http:// hearing, the five largest Chinese-style incentives may cause liquidity black holes: First, compared to a mature financial market, China's financial market is a very immature market, a number of structural problems make the domestic market .naturally has a strong liquidity characteristics of volatility; second, information on the volatility of financial market liquidity has affected more and more; the third, the market sensitivity of the convergence of risk management system to reduce the diversity of the market; fourth .excess liquidity caused by excessive growth in asset prices; Fifth, the "Chinese-style regulation," the administrative intervention on the market to make up and alternative adjustment mechanism. . problem of excess liquidity is the current macroeconomic and financial operation of a hot topic. .While the central bank and other financial regulatory authorities to strengthen the regulation of excess liquidity issued a series of policy measures, but excess liquidity risk is still not effectively resolved. .Of course, we must not only focus on addressing the problem of excess domestic liquidity, but also must be fully alert and attention to excess liquidity may produce a black hole mobility problems to curb excess liquidity that could have many negative effects. .Zhe Yeshijinqi give the U.S. subprime mortgage crisis, one of our Important Enlightenment. . guard against a "liquidity black holes" "liquidity black holes" by Avinash D. Persaud, and other foreign scholars, a concept, this concept refers to the financial markets in a short time .sudden loss of liquidity phenomenon. .When financial institutions engaged in market transactions, due to changes in the external environment, internal risk control and regulatory requirements, will appear at some point sell-off of financial products, while members of the trading portfolio with similar risk management objectives and .trading mentality, there will also be selling a lot of needs, this time the buyer the seller is not only the entire market, market liquidity suddenly disappears, is selling assets, selling prices continued to increase rapidly declines coexist liquidity conditions will deteriorate further, culminating in .liquid markets and institutions seem to be absorbed away in an instant, like the image of this phenomenon was known as "liquidity black hole." . under the liquidity black hole theory, the diversity of financial markets is the core of liquidity, liquidity, the formation of black holes the diversity of the general financial markets are closely correlated with the size of the market there is no necessary relationship gradually. .Further analysis found that the diversity of financial markets and information and the diversification of the diversification behavior of market participants, trading tools, diversity, diversity of decision rules related to such factors. . compare the current reality of China's economic and financial situation, causing a liquidity black hole is actually a lot of incentive to exist, and the excess liquidity caused by the some of the negative issues are likely to be causing a liquidity black hole .the fuse. .In this regard, we must be clear and understand the following five aspects. . First, relative to a mature financial market, China's financial market is a very immature market, a number of structural problems naturally makes the domestic market with strong liquidity characteristics of volatility. .This is mainly reflected in: First, a single product structure and portfolio. .At present varieties of inter-bank market transactions are spot, market participants focused on the bond portfolio, lending, repurchase and other closed-end variety, and forwards, swaps, outright repo transactions and other derivatives .very light. . Second, the main focus on a single bond market, bond market is currently the main commercial banks, commercial banks holdings proportion of total debt is about 75%, while insurance companies, fund companies and securities companies held .Some bonds are very rarely, not to the highest proportion of 10% or even less than 1%. . Third, commercial banks, asset and liability structure of convergence, all commercial banks deposit and loan structure is almost the same. .Convergence in the structure, the lack of diversity in the market, once the accident occurs, they may want to take consistent action to avoid the risk, this "herding" will undoubtedly become a catalyst for generating liquidity black holes..

A clear response to the Commission: work is not delayed launch of the GEM.

Not delay the launch of the GEM Commission Chairman Shang Fulin said in the first half of the GEM, seeing time is mid-April, there has recently came out and said the media could hold GEM .introduction, the message a public outcry. . In this regard, the Commission made it clear response to the work planned launch of the GEM implementation, not delayed, in April will launch GEM IPO (initial public offerings) formal approach. . Growth Market for the specific arrangements, the Commission said, planned April launch of a formal "initial public offering and listing on the GEM management approach" 3 comments at the end of the current .being perfected. . a clear position for the regulators, the market give a warm response. .Shanghai and Shenzhen stock markets venture capital funds stocks are sought after, another strong rise yesterday, leading shares, Fudan Fuhua, purple stock, shares of power have combined daily limit. . - GEM and Main Board, medium and small plates China to build multi-level capital market system, first, the motherboard market, followed by GEM, and then the counter OTC .market. .Motherboard market at two levels, one called the motherboard, there is another called the SME board. .Both conditions are actually the same issue, but slightly different scale of enterprises, small and medium size smaller board more, in the Shenzhen Stock Exchange. .GEM is a multi-level capital market system in China an important part, primarily serving the growing, and in the entrepreneurial stage companies, in particular, focus on supporting enterprises with independent innovation capability. . Although the SME board and the GEM are serving SMEs, but the SME board of the company has entered the corresponding mature, stable profitability; and more of the GEM is still in SMEs into .long-term, entrepreneurial period, and that is just beginning to have a certain size and profitability, in technological innovation, business model innovation have more features. . - What are the special design of the GEM? . one of the listed training resources. .Economic development in recent years very fast, a large number of small and medium enterprises there, and some innovative enterprises in large numbers, reserve more resources. .Compared with other countries that have some unique conditions. . Second, the entry threshold is reasonable. .Two years in the financial indicators such as profit, profit a year, the company must be more than three years of existence, the share capital after the listing of the scale to reach 30 million or more; actually on firm size, profit model, profitability, have put forward conditions; not .as completely open as overseas, to ensure that listed companies have some foundation. . .

Baosteel tide lifting the ban lead in August under pressure from the market confidence in the re-.

Chinese people's century Olympic dream will be a round in August, this year, the climax of the size of non-lifting of the ban will also appear in August, up 237.6 billion yuan of the Restricted Shares lifting of the ban, which limits the maximum ban of Baosteel, the size of non-lifting of the ban climax in August .psychological stress caused to investors is far greater than the actual sell-off may be formed. . sell-off until mid-year report locking August (http://) as they put it, these days the trend of A shares slump confirmed the confidence of investors and funds have been or .to the extreme. . Southwest Securities analyst Zhang Gang, according to estimates, in August of shares lifted the pressure more than 11 times in July. .August share sale of shares of the lifting of the ban will be limited, the amount is 216.4 billion yuan, 18.9 billion more than July's increase of 197.5 billion yuan, the rate of increase was 1044.98%; the total amount of restricted shares lifted as 237.6 billion yuan, 624 more than in June .billion to 175.2 billion yuan, the rate of increase was 280.77%, nearly four times as July. . which the maximum amount of lifting of the ban Baosteel reached 100.3 billion yuan, followed by 22.8 billion of CITIC Securities, Suning Appliance 168 billion. .Total amount of accounts for the three month total amount of the share reform lifted 65%, indicating that the stress is concentrated cash. . non-stock reform to reduce the amount of shares lifted five percent. .Chenzhou Mining shareholders to subscribe for shares of the original starting amount of lifting up to 24 billion, GRG starting amount of the original shareholders to subscribe for shares of lifting up to 20 billion yuan, Jin Jing private placement agencies placement technology shares lifted the amount of 15 billion. . particular, subject to relevant provisions of the lifting of the ban in July, but can not sell the size of the non-real-time, the selling pressure will be concentrated in August. . under the "lifting of restrictions on sale of stock of listed companies guidance on transfer of shares" in Article V, "the controlling shareholders of listed companies in the company's annual report, semi-annual report may not be transferred within 30 days prior to the announcement to lift restrictions on sale deposit .the amount of shares. " .In this way, the original intention of shares in July lifted the controlling shareholder of reduction to have to wait until after the semi-annual disclosure before they can be. . Fortunately, the July semi-annual report of listed companies disclose only 22% of the total. .And August by 88% semi-annual report of listed companies disclose an appointment, but also semi-annual disclosure of the end time. .Zhang Gang said in August with the semi-annual report of the continuous disclosure, lock-up period, Restricted Shares lifted the situation will be even more cause for concern. . 8 月 12 times the amount of lifting the ban on July calculated according to Zhang Gang, August average daily share amount will be limited, for the lifting of the ban sale of shares 10,305,000,000 yuan, compared with July's .822 million yuan, increasing 9.483 billion yuan, with a range 1153.65%, to 12 times more than in July. .August 2008 lifting of the ban the average amount of each company is 2.378 billion yuan, compared with July's 259 million, increasing 2.119 billion yuan, the rate of increase was 718.15%, for the July 8 times. . which, in August over a 10 share reform of listed companies trading day ban sale of shares subject to Aug. 4, Aug. 8, Aug. 11, Aug. 18, more pressure for the lifting of the ban .set time. . "As the entire trading day in August of less than 2 days in July. Therefore, the overall situation, the lifting of the ban single-day increase in pressure than in July more than 10 times the pressure of a single company's lifting of the ban 7 .8 times more than in January. "Zhang Gang said, lifting the proportion of outstanding shares of stock accounted for 60% of the company ST Tokai A, Baosteel, Guangzhou Holding, Shenergy, Supor, Zhengzhou Coal, Sinochem International ., Luxi Chemical, Aeolus Tyre Co., a total of 11 Pearl of the Orient, and in July did not. .A proportion of the East China Sea where ST up to 277.47 percent, followed by Baosteel 212.10%, 202.97% holding in Guangzhou. . number of shareholders, the top three companies are the East China Sea ST A, Shenergy, Meiling, number of shareholders were 60, 21, 12. . "91 listed companies, the proportion of state-owned shares have more than 50% in 9, respectively, Baosteel, Guangzhou Holding, Jinling Pharmaceutical, Tongli Cement, * ST Changhe, Huadian Power International, .Jiangxi Cement, Laobaigan wine, Tianwei change. "Zhang Gang said, these companies can sell the state shares properly, without loss of shareholder status, there are some cash risk. .In addition, ST Hongsheng, Shimao shares, large work first, * ST Meiyan, Connaught sun, Ma Ying-long, totaling 27 companies owned shares without sales limit, worthy of attention. . recently there have been increases of listed companies to honor its promise to lift the embargo in August in 91 companies, shareholders promised cash price is higher than the lowest current market price of the medicine is only so long; and Mut Wah shares, Shaoguan Iron & Steel .Matsuyama, Guangzhou shareholders holding the minimum cash commitment to the adjusted price is only slightly lower than the market price is a concern. . incremental "peak" Stopped increment of shares sufficient to rebuild a A shares. . Some analysts have reviewed, "the size of non-" pressure will end in 2010, is the date the rise of A shares. .But the truth is, due to continuously issue new shares after the share reform, incremental cash restricted shares of the pressure of a same size plastic enough to be A-share market. . relevant statistical data show that the share reform before the listing of the shares totaled 9.59 trillion yuan, of which "the size of non-" left 4.94 trillion yuan; the share reform after the total market value of shares listed on 9 trillion yuan, of which 7.55 .trillion is still a "lock." .Which is now 12.49 trillion yuan in Shanghai and Shenzhen stock markets are still issued no stock in circulation, of which 60% is added after the share reform of the Restricted Shares. . The IPO is still in full swing, in front of Chinese architecture, after the 25 times price-earnings ratio of China South Locomotive. .The block trading platform can only contain limited to the first sale of shares changing hands, changing hands after the "curve" approach, still the pressure piled on the secondary market. . "The size of Non-stock reform Although the numbers have not small, but it is after all the stock. And new from the old rear of the restricted shares is incremental, and I do not know how many more 'up', see .less than head ah. "Zhang satellite market veteran exclaimed. ..

China A-share market staged reality version insider information "Overheard".

7 月份 strong rebound in the stock market, immediately, there people who claimed to have inside information more up gradually, it is no exaggeration to say, filled with ten people in Shanghai, eight have been claimed, "I have news." .Our company's senior legal adviser Mr. Wang Lao recent high-end likes to run and feet room, because he can find out from the feet of some girl's mouth stock market insider information, and feet, girl, shoe workers like the people, .Their message is powerful in their services for some of the sets out of their mouth! We apply the "Overheard" where a line: "It is filled with insider information, who will hear such a pass, anyway, are not harmful .people. " . restructuring and asset injection has been China's A share market, "eternal themes" and reorganization of these are related to insider trading this year, the Commission investigated the case of two-thirds of the market manipulation of asset restructuring is inextricably .contact (such as: insider trading, market manipulation, financial fraud), although the Commission claims to focus on restructuring the whole process before and after, if found to have insider trading and market manipulation will be severely hit, or to withdraw from the market for ST underperformance .the company's "queer restructuring", the Commission will not be support! But even so, the Rat is repeated: 2009 November 2nd Japan-China COFCO Property, Chinese medicine, served in the Sea closer to the daily limit mad late, after the close .that came their shares of China Merchants Securities to be released prospectus. .After the first time in a day, three friends of chemical heavy volume limit late night news on the coming reorganization of assets, on November 17 after the resumption of trading limit. .Two examples I have cited cases of the sea just a chestnut Rat. . why inside information is known secret that many people? We assume that a reorganization or merger and acquisition program, to go through many links. .Must first obtain the approval of controlling shareholders, the controlling shareholders of listed companies, many state-controlled, as the relevant government approval process is indispensable, to the senior leadership of large and small to the general staff, by those who know the inside story first, then .transmission to their relatives and friends, this is not a well known secret? Bohai Securities, a former assistant to the president are not allowed to copy their own stock Everest, and he learned that drug Bohai Securities may backdoor listing of City of Victoria, with its mother .insider trading account, which senior corporate managers, securities professionals, even if they borrow one or two unrelated insider trading account is very easy to do get to do. .While it is illegal stock trading, insider trading, a lot of people, but eventually was thrown into the prison, it is very few..

Friday, April 15, 2011

34 companies awarded the share reform program of large scan.

Indian stock market crash: The Chinese take the view or Credit Shield?.

May 30 the World Bank released the "Global Development Finance 2006" report. .The report shows that in 2005 private capital flows to developing countries reached a record net flows of $ 491,000,000,000. .In the report, the World Bank's senior researcher on the large-scale inflow of foreign capital after the withdrawal of financial stability to emerging market risks expressed strong concern. . review recent changes in world stock markets, emerging Asia has once again become the focus of the world. .Indian stock market bull run since May 11, after peaking worsened, the Bombay Stock Exchange has suffered the most serious in recent years, fell nearly 7%. .This is the first significant pullback in two years since then, the Indian stock market sustained decline, the market sentiment called the stock market crash. . According to reports, mainly from the power of selling by foreign funds. .High oil prices, sharp rise in international energy prices, growing inflation, the market for the United States expressed concern about further interest rate hikes. .Strong risk aversion of international investors led by hedge funds and mutual funds are busy adjusting their portfolios. .India's official data, foreign funds have sold 2.4 billion shares in India, there has been the largest net outflow. .A number of people scared, in two days in mid-May, nearly 800 million U.S. dollars have withdrawn from the market. . large outflow of funds was not only India's stock market dropped significantly, while the people of India will be how the rising current account deficit financing expressed great concern. .Some economists worry that even if this trend continues, this may lead to sharp depreciation of Indian currency rupee, and to combat domestic demand and trigger a new economic crisis. . this market performance varies, appeared in a variety of speech, during which the mind may well show interesting. .Many publications are also of comment articles, which is concentrated in the mode of economic growth in India, most of the tone is optimistic that the superiority of China's economic growth. . Some commentators felt that the development of China's key manufacturing sector, strong export capacity to the emergence of a huge trade surplus, commentators refer to FDI (foreign direct investment) policy, citing strong growth in China's GDP .data, citing the expected appreciation of the renminbi good that China appears unprecedented in the history of the world for over 10 years up to double the balance of payments surplus, so optimistic about the strong flavor. .In contrast, long-term emphasis on the service industry in India, ignored the manufacturing sector, resulting in a current account deficit. .Described by these commentators, India, the crisis can not be repeated in China. .Meanwhile, the Chinese stock market bear market swept away entrenched for many years, some people also repeated China's stock market rose out of the independent market complacency. . However, if we can comprehensively look at the context of China's economic development, you can find much of China's economic risks still exist. .With the increase in the degree of China's economic opening of China's economic dependence on foreign trade (imports and exports that year / year GDP) also appeared high, has exceeded 60%, while the United States, Japan and other countries has been at 16% -18 .% or so. .People have felt the hot real estate market in China, foreign stock markets often seen in the figure, although the country still practice capital controls, but rather, a number of international hot money in anticipation of yuan appreciation has a variety of ways .into the country. .In this regard, we should maintain enough sober. . concerned about the international hot money movements, wary of large-scale withdrawal of foreign short-term impact on our economy is already in front of us is an important task. .It is understood that the State Administration of Foreign Exchange is actively deploying measures to prevent the outflow of hot money in China a large number of possible negative economic impact. . , of course, can be expected that in China's capital project is not yet fully open conditions, even if the exodus of foreign capital, China's foreign economic development is also not going to be too much impact. .But this does not mean that we can sit back and relax, for today is already happening in India, we can not hold the mentality of standing on the sidelines, but should conscientiously sum up the lesson, make a rainy day. .(Nathalie) .

51 baked batch of reforms Shanghai share reform companies accounted for 94.5% of market value.

9 月 24 evening, in consultation SSE 51 companies approved reform: Dongfeng Motor, Mailyard, gold Cereals Industry, Tin Branch shares, in the constant group, power shares, * ST Songliao and .three fine Pharmaceuticals, a total of 8. . Up to now, Shanghai to complete share reform or enter the share reform program of the company a total of 721, the total should share reform total number of companies 88.4%, yet share reform should share reform companies 95; to complete share reform or enter the share reform program .The total market value of the total should share reform the total market value of 94.5%; the SSE 50 Index constituent companies to complete share reform or go to the share reform program of the company a total of 45, accounting should be the share reform on the SSE 50 Index constituent companies of 95.7%; on 180 Index constituents .Share Share Company completed the share reform program to change or enter a total of 169 companies, accounting for share reform should be on 180 Index constituent companies of 95.5%. . Shanghai approved the share reform of the company's total market value of about 27.172 billion yuan, of which the market value of shares of a larger power is about 9.375 billion yuan. .This time, the share reform Electric shares issued another notice should also marks the second of its share reform washed off the start. .April 20 this year, the company sponsors the only non-tradable shares of Shanghai Electric Group Co., Ltd. and the actual controller of Shanghai Electric (Group) Corporation to participate in the power to change the shares of Shanghai Electric (Group) Corporation to the flow of .A shareholders of A shares for every 10 shares in circulation to pay 20 yuan in cash consideration, the total paid circulation of A shareholders a total cash consideration 10200.0006 million. . the same time, Shanghai Electric (Group) Corporation has a special commitment: If the power-share in fiscal 2006 audited net profit has not reached 517,965,452 yuan (that is, as of March 31, 2006 the company's total share capital of 517,965,452 shares .as basis, the audited fiscal year 2006 earnings per share has not reached 1.00), electrical power up the shares of Group A shares in circulation for every 10 shares get 5 million in cash. . However, because of the power-share price at 15 yuan in the vicinity, and its "10 get 20 yuan," the equivalent of the price equivalent to only send down about 1.3 shares of stock, so after the vote ., the program received only 55.7% of shares outstanding approval rating could not exceed 2 / 3, the share reform program was not. . as of Sept. 22, shares of stock price closed on 6 power sun, reaching 18.10 per share. .In this case, the company will continue to adhere to the cash consideration whether the program merits attention. ..

65 million people crazy selling information online! Only three thousand yuan.

: Http:// News, recently, Changsha Cheng investors often receive harassing phone calls to his total strangers to sell financial products, he said that he has bear harassing phone calls to their interference. .Cheng did not think angry, his personal information is being sold on the site. .The reporter found by logging on a Web site, the seller claims that 65 million people on hand with information available, such information including name, phone, address or even the market value of such holdings. . 65 million bid information on 3,000 people quickly spawned a booming stock market investors information on the underground market trading, on the network, a number of name information consulting, wealth, name of business .investors began selling public information Web site, the information includes the names of shareholders, gender, address, phone, etc., and even the market value of shares held. .Enter the relevant keyword search engine, found dozens of related sites of many. . one reporter Login "Fortune Business" website, the site at the top labeled "the most authoritative and most complete business database" message, and the sale of advertising on the site, said, "this site just from the Securities .company to obtain the latest details of more than 650,000 investors nationwide (highly confidential documents), information content, including shareholders name, gender, address, zip code, phone, mobile phones. that this information is the market alone product, is a rare first-hand information. National shareholders .List information is true and credible, the price of 3,000 yuan. " left the site 24 hours a fixed telephone, mobile phone, QQ and other contact information, press contact for the purchase of the identity of the person in charge of the site Zheng .one, he said, in April of 110 000 new shareholders account information is up. .Price of 1,500 yuan, and a detailed description of the transaction steps. . Some data certified to be really true journalists to verify the reliability of the information investors are selling the ground, some investors to ask for information Jeong. .Subsequently, the reporter received a copy of "EXCEL" document, there are dozens of investors around the country data sample. .Verified by calling a reporter found that the vast majority of the information is true, the majority of investors surveyed on their data being sold as a commodity expressed anger and said previously received in a number of harassing phone calls. . information is sold Changsha investors Cheng said the call was mainly to their various financial advisory company, selling a variety of financial products and software stocks. .Chung and another in Guangzhou, said that many insurance companies to own a telephone call. .While a seller also said that investors bought more detailed information for the financial management company. . information on a website selling shareholders also similar to the "shareholders Resource Guide," the article, the information buyers guide investors how to develop their resources, so that investors as clients. . source of information for securities firms? . investors sold almost all of the information held in the hands of information to explain their sources say that this information is through the relationship between the securities company to get the. . but the securities industry sources said dozens of million people in order to master the information is very difficult to do. .Because each securities company only their customer information, and strict supervision of the securities company system, each employee can only see part responsible for their own customer information, sales information can not be provided to investors so much information, do not rule out such information .the possibility of a sellers fabricated. . Beijing Ma Yongguang Hedwig lawyer law firm that, according to our laws, information on the Internet selling shareholders, a clear violation of personal privacy and individual investors trade secrets, and harmful to the society. .If the information is unscrupulous elements, resulting in data being compromised investors property losses, and investors who can be held liable for sale. ..

"Stamp" Bash thousands daily limit 1.2 trillion market value evaporated panic.

: Http:// hearing, according to data released by the Shanghai and Shenzhen Stock Exchange, as of the previous trading day ie Tuesday's closing, the total market value of Shanghai and Shenzhen 18861480000000 yuan. .The total market value of Shanghai and Shenzhen, respectively, yesterday declined to 13.51735 trillion yuan and 4.10956 trillion yuan, 1.2345 trillion yuan total atrophy, atrophy rate of 6.55%. . synchronization between the two cities are shrinking market capitalization. .Statistics show that the two cities on Tuesday, the market value of 6.44649 trillion yuan in circulation, reduced to 5.98923 trillion yuan yesterday, slid 457.26 billion yuan, down 7.09%. . cities index yesterday Tiaokongdikai, exploratory session brief intervention hunters hold index funds, but a lot of selling pressure in the disk rapidly lower limit-down stocks everywhere. . cities index fell yesterday for the Feb. 27 largest single-day drop since. .The Shanghai Composite Index plunged 281.84 points, or 6.5%, Shenzhen Component Index decreases to 6.16%. .Turnover for the first time the two cities more than 400 billion yuan, reaching 416.337 billion yuan. . cities of the first weight plate falling to the financial sector the most natural "shocking." .Wind Information Statistics show that the total market value of the financial sector yesterday, slid 358.293 billion yuan, accounting for the total market value of Shanghai and Shenzhen, "evaporation" of 29.02%. . addition to Shanghai Pudong Development Bank (600000.SH) to 3.26% of the gains were "spared", the other financial stocks all fell. .Among them, the brokerage unit of Hong Yuan Securities 000562.SZ) and CITIC Securities 600030.SH) daily limit; and insurance company Ping An (601318.SH) and China Life 601628.SH) plummeted 9.25% and 9.08%; banks Industrial and Commercial Bank (601398 .. SH) and Bank of China 601988.SH) fell 4.83% and 7.12%. . SSE statistics show that the total market value of ICBC yesterday 1.33512 trillion yuan, accounting for 9.88% weight Shanghai; Bank of China, has withdrawn from the market value of the "trillion club", the total market value shrank to 974.448 billion yuan ., accounting for 7.21% of SSE weight. . Shanghai Pudong Development Bank to become the biggest "winners" up to yesterday's market capitalization surged to 100.068 billion yuan, accounting for 2.54% of SSE's market capitalization has become the first heavyweight Shanghai stock market capitalization. .CITIC Securities to retreat to the Shanghai stock market capitalization limit-down second place in market capitalization has shrunk 10.973 billion yuan. . 2 月 27 日 Shanghai and Shenzhen experienced a "baptism." .Day fall in Shanghai and Shenzhen indexes were 8.84% and 9.29% of total stock market value shrank to 8.5102 trillion yuan, respectively, and 2.344174 trillion yuan, representing a shrinkage of 26 February were 812.708 billion yuan and 218.74 billion yuan, a day fallen 1.031448 trillion yuan .. .This figure represents the biggest heavyweight in Shanghai and Shenzhen Commercial Bank total market value of the date of the 87.63% 1.177 trillion yuan. .The decline yesterday, the total market value of Shanghai and Shenzhen Commercial Bank has reached 92.47% of total market value. . a number of industry sources, the stamp duty bad "with" the recent adjustment of expectations, to bring some investors panic, resulting in yesterday's market crash. .The shrinkage of the total market value of the two cities, reflecting the market from another level of fear. . related to depth reporting >>><? xml: .namespace prefix = o ns = urn: schemas-microsoft-com: office: office /> <o:p> </ o: p> Print Bash instant evaporation of the market value of the stock market panic trillion <o:p> </ .o: p> bad surprise stock index plunged 281 points Jiucheng disastrous decline <o:p> </ o: p> printing off black and injured 100 million Internet users out of the Ministry of Finance website angry? <o:p> .</ o: p> Finance irregularities Leak? <o:p> </ o: p> Review: Rhubarb purging fire in the straw market triggered by drug tragedy <o:p> </ .o: p> Stamp Duty chain reactions cited increased compared with the shares rose negligible <o:p> </ o: p> curb speculative securities stamp duty rate to 3 ‰ <o:p> </ o: .p> What is the stock (securities) the stamp duty? <o:p> </ o: p> high turnover stamp duty on more than 500 million investors day <o:p> </ o: p .> previous market trend after adjusting the stamp duty <o:p> </ o: p> Comments: to increase the stamp duty rate is stable market signal <o:p> </ o: p> .

China's stock market capitalization is approaching the high GDP.

Editor's Note】【 While Shanghai and Shenzhen stock market value approaching the total GDP, but still relatively small market capitalization. .China's stock market capitalization is currently only one-third of total market value of shares : http:// hearing, yesterday, the total market value of shares in Shanghai and Shenzhen together with the index again hit a new high, reaching 206 800 .billion. .Compared to 21.087 trillion yuan of GDP last year's total, China's total stock market value of GDP, close to 98.07%, which means that rate of asset securitization in China nearly 100%. . higher rate means that the Securitization of the virtual economy larger role in the larger national economy. .Britain and other mature markets, asset securitization rate is normally more than 100%, emerging markets, about 70% to 90%. . According to First Financial Daily reported, data released yesterday in Shanghai and Shenzhen Stock Exchange, as of yesterday's close, Shanghai's stock market capitalization reached 15.921127 trillion yuan, while market capitalization reached 4.630079 trillion yuan. .Shenzhen stock market value was 4.76011 trillion yuan, the market value of 2.398974 trillion yuan in circulation. .The total combined market value of the two cities reached 20.68 trillion yuan, the total market capitalization reached 7.029053 trillion yuan. .Market capitalization accounted for 33.99% of the total market value of more than three percent. . National Bureau of Statistics data show that in the first half was 10.6768 trillion yuan of GDP, total economic output last year after a revised 21.087 trillion yuan. . CITIC Securities chief analyst of money through the strength that the total market value of Shanghai and Shenzhen proportion of GDP, close to 100%, indicating that the domestic capital market is also expanding. .As the economy improves, the corresponding expansion of assets began. .Also demonstrated from another perspective, the current stock market boom, and the embodiment of the stock market wealth effect. . Hai Tong Securities researcher Yang Hongjie, pointed out that compared to the stock market and abroad, Shanghai and Shenzhen stock market capitalization increasing proportion of GDP, on the one hand that the stock market in the economic operation of the improving status of .growing impact of economic development; the other hand, shows the economic development of China's stock market played a role in direct financing for economic development and made contributions. . However, the development level of China's stock market has not reached the level of developed countries, particularly the development of bond market is relatively backward, the rapid expansion of total market value of the stock market there are uncertainties, particularly the excess liquidity .The total market value of the stock market presented "puffiness" state, to achieve a breakthrough in quantity, but in terms of quality still needs to continue to develop. . one of the industry also believe that, despite the Shanghai and Shenzhen stock market value approaching the total GDP, but still relatively small market capitalization. .China's stock market capitalization is currently only one-third of total market value of the stock, most of the state of the stock is still not in circulation, the stock market as the economic "barometer" of the role is still not fully be reflected, so the actual rate of the securities is not so high .and foreign capital markets mature circulation is basically belong to the state. . However, with the "size of the non-" lifting of the ban, H shares and red chips, etc. A share issue and listing of additional shares, the stock market this role will be enhanced, the economy and capital markets to more closely .contact. . Glossary rate securities refers to the total market value of securities of a country and the country's gross national product ratio, the actual calculation of the Securities .The total market value of the total stock market value is usually represented. .The higher the rate securities means the securities market position in the national economy more important, so it is a measure of a country's level of development of an important indicator of stock market. ..

Battle of 5,000 blue-chip sector will not lighten up sitting!.

: Http:// hearing last week, market trend in the doldrums, gapped plate fell below 5000 points. .As market sentiment is low, the fund on behalf of institutional investors also uninterested, according to the Shanghai Stock Exchange Topview data show that funds in the Shanghai Stock Exchange last week sold a net total net purchases of less than 140 billion yuan, with the peak in mid-October .one-tenth of the time not to, Shanghai 382 funds holding, was increased last week only one species to lighten up a little over into, for the broader market heavyweight, the fund is still difficult to let go. . in the previous two weeks, funds or make a difference, November 8, 9, 12, had three hunters funds, investment of billions of capital, by mobilizing its Shigekura steel, .brokerage, transportation logistics and other heavyweights, the ultimate success of manufacturing rebound, the Shanghai index 5000 points to win the Battle of the victory. .But the stock market decline has not ended, single-day turnover hit a 28 December 2006 the lowest level since the display during a slump, the off-market funds still no will. .Fund the one hand, the new fund issue is not smooth, not on the collusion of follow-up funds; the other hand, the release of iron in the Chinese take away a considerable amount of cash, determined to do even more natural, but also powerless. . It provides a compass to win the rich depth of the SSE market authorization Topview data show in Shanghai last week, funds bought a net 7.823 billion yuan, net sales of 5.466 billion yuan, a net investment of 2.357 billion yuan. .Net buying of the total trading volume of net selling only 13.289 billion yuan, this poor trading volume and transactions for the Fund in mid-October this year during the peak period compared to 143.224 billion yuan, less than one-tenth. .Even last week's trading volume is also inferior to those of 12 November 5000 while defending the third volume when hunters, net purchases of 12.119 billion yuan the day the Fund, net sales of 7.346 billion yuan, the net investment in the Fund the same day .up to 4.772 billion yuan of funds. . Awkwardness changes from the fund situation, the compass to win the rich depth of data, the proportion of broker float caps held by the Fund more than 5% of the Shanghai Stock Exchange stocks over the previous week 3-382, of which only .22 positions was significantly increased (change in ratio of more than 1.6%), decreased the proportion of 23 positions, increase or decrease the proportion of only 11.78%; float caps held more than 50% of the Shanghai Stock Exchange Awkwardness has 76, compared with the previous week .2, of which seven clear Masukura, four significantly lighten up; more than 70% stake in Shanghai Stock Market Awkwardness as the previous week is still 30, including two significant Masukura, a significantly lighten up. .General. .Organ of the species remain stable, Awkwardness is no big movements be less fund transactions. . Although the weight of index stocks are the hardest hit by the current round of adjustment of prices to last week, China Petroleum, China Life, Ping An of China, CITIC Securities, China COSCO and so are greater than 10% weekly decline, but .news of the introduction of stock index futures to burst to burst, the fund where dare not let go, Moreover, the current size of the Fund generally is not small, the stock plate, how can accommodate small "predators." .We focus on monitoring the total market value of Shanghai Stock Exchange's broader market heavyweight top 25 as of last weekend, the proportion of fund positions accounted for more than 30% of float caps there are 17, 8 of which only D ratio is also more than 50%. .Compass wins the rich depth of data, the broader market last week, 10 heavyweight Fund was Masukura, including the newly included in the index and the index falling and a serious drag on China's oil holdings of 0.03% of its funds last week, an increase of even .slightly, but it took real money to buy the. .Baosteel, China's Air China, China Shenhua, China Minsheng Bank is the Fund Masukura are continuous, and is worth noting that early is to lighten up the Shanghai Automotive, China Unicom re overweight, and Hai Tong Securities holdings of 1.45% last week, .fund positions rose to 21.96%. .The Bank of China, China Ocean last week reduction of more. .Overall, last week on the broader market heavyweight increase or decrease the Fund is not large, the proportion of positions more than 1% change in the total market value of the top 25 stocks, only five. . even if the market trend in the doldrums, but the agency last week was a little Masukura. .As of last Friday's close, from a range of changes in account terms, large family holdings in Shanghai accounted for 31.38% disc ratio, essentially flat with the previous week. .Change of view from the ledger accounts, brokerage accounts holding funds offer more than 14.53% over the holdings of 0.02% the previous week. ..

Capital chain tightening real estate shares "foresee" significant decline.

Macroeconomic data in the first quarter after the announcement of April 16, the central bank for half an hour earlier than in the past by raising the deposit reserve ratio, which was widely interpreted as management's determination to curb inflation. .Analysts agreed that raising the deposit reserve ratio of funds of listed companies based only in the "theory" of the establishment, but did not improve the current market decline, it may be a weak negative amplification. .Real estate shares plummeted early this week may be the tightening of monetary policy to anticipate. . (Http://) are Shanghai Securities researcher Yi Cai said, "The key is to look at the Chinese economy in 2008 is the 'soft landing' will still be the turning point, which can determine the valuation of listed companies is now Geometry." bank spreads loss of 2.22 billion because it is directly withdraw cash from banks, has been the deposit reserve ratio increase, the bank is considered to be the most affected sections. . CSC analyst Min Hua She believes that raising the deposit reserve ratio on bank stocks actually have a negative impact. ."Bank money to buy all kinds of notes and bonds, interest earnings available 2% to 3%, the deposit reserve rate is 1.89%, the spread between the loss of profits arising from the banks." She .Min Hua said. .Since the beginning of this year, the bank's external card lending has been very tight line, and even part of the emergence of deflation. .So the money can only be used to purchase notes and bonds, earn interest income. .Data show that 3 at the end of this year, financial institutions and foreign currency loans increased year over 1.62 trillion yuan. . general, that raised the deposit reserve ratio by 0.5 percentage points each, equivalent to the commercial banks recovered from the 2000 billion yuan of liquidity. .This increased the deposit reserve ratio, which is equivalent also caused a total of 2.22 billion yuan commercial banks interest rate of about losses, allocated to each bank, little impact. .She Min Hua's view, raise the reserve ratio for small and medium line impact far greater than the big firms. . book value remained high but compared to raising the deposit reserve ratio and the like affect the use of quantitative tools, Cai Yi are more worried about the Chinese economy can achieve a soft landing .the grounds that it would usher in the banking industry will determine the subversive "valuation reconstruction." .In the current round of adjustment, from the PE (price-earnings ratio), it seems really cheap bank shares now, and every family is only ten times earnings, not to mention a quarter or so beautiful. ." Yi Cai are reminded investors of economic growth once the inflection point, then the PE valuation can not be established, required PB (book value) to reshape the valuation system," and now the international banking .PB generally only 2 times, and that the valuation of shares of Bank of China is obviously high. ." real estate shares slump" foresee " real estate shares earlier this week appeared in some inexplicable slump, the day before the overall decline in the real estate sector up 8.7% .. World-based investment analyst Wang Limin that raising the deposit reserve ratio, so that part of the real estate stocks have plummeted to explain. An Jiashi line a credit management department director Chen Xia pointed out that recent real estate funds .chain is already very tense. several real estate companies have been disclosed in the annual report of the net operating cash flows are negative, ranging from negative 40 billion yuan, 10.4 billion higher to negative, while their overall net cash flow is positive. .Net cash flow is the real estate business to fund-raising activities to maintain, this is the high dependence on bank real estate business dictates. due to the impact of national macro-control in 2007, the real estate industry volume decreased significantly, cash shortage, resulting in business .Net cash flow is negative, indicating that the pressure of their business already exists. "The reserve ratio increase, commercial banks, monetary tightening again, and indicates that regulators on monetary policy is not tight .will be relaxed. ."Wang Limin think. Wang Limin said the advance party of soldiers to the real estate business as a cost-driven enterprises - including food and beverage, petrochemical, pharmaceutical and other companies, including many of the net operating cash flow negative, close to tight in the capital chain .the time limit, the central bank's behavior in 16 negative effects of these listed companies will be amplified. .

Stability maintenance fund A shares several times backed bailout this week face to.

A-share market down last week, most of the time or the low side shocks, however, investors are pessimistic in the extreme, or even worry about whether closing Yang month when the K line, Yao City, on Friday the rise in financial stocks, led by strong gains across the board .. .Analysis, this sudden surge in late Friday and Game over the weekend by news of possible trends, but also to the Olympic Games will open on Friday, the positive will help to stabilize the broader market rally this week. . market in the "maintenance of stability" in the weakening of the reasons (http://) U.S. stocks rebound in early last week by the impact of stock index opened slightly higher, but the 10-week moving average above the blocked .repression. .Most of the time the week after unilateral down and start from the association with the external market. .Until last weekend, falling to 2721 points, in the bargain hunting and a strong involvement Bo messages plate under the influence of financial stocks, stock fast counter, to close at 2801 points, still a small Yinxian the week to close. .During this period, daily trading volume gradually shrinking in relative volume level. . consistent public opinion, "maintenance of stability" in the background, the stock still choose most of the time last week, down side, study of its three main reasons: First, suspended for four months after the release of large cap stocks ., CSR will restart in early August IPO, the market is very worried. .Meanwhile, the recent IPO on the first day to high-benefit ratio, the next day turned to hit bottom, indicating the secondary market continues to pay for the primary market. . Second, August is also the size of the larger non-month ban from the cumulative effect, the future of the selling pressure is still quite a lot. .11.9 billion shares of Baoshan Iron and Steel in particular, the restricted shares will in the Aug. 19 lifting of the ban, first holder of that value investing Baosteel aside, have chosen to first withdraw tactics. . Third, the market worried about "maintenance of stability" is just a special time for the Olympics, of a temporary nature. .Some investors believe that the current management, the major media are in the promotion of stability maintenance, stock index finishing just can not rise; if, after the Olympics, if not these "maintenance of stability," the voice of the market are we going to crash? . market downturn wiped in a few bright But even in this sluggish market, from Handicap point of view, there are still a few bright colors should focus on wiping value. .Since the end of June since the Shanghai stock market has been active in the local share of the overall maintenance of nearly a month. .During this period, led by industry as the sector signs Lung, and gradually extended to Zhongwei Guomai, Waigaoqiao, Pudong Jinqiao, bus shares, shares of Asia Link, Haixin, Gerber Group, Shanghai and so on local shares. .In the month since the operation of local shares opportunity Shanghai frequently, beyond the market. . and Olympic plate for some time in silence after the upcoming Olympic Games in the near occasion of the end of adjustment across the board last weekend, has begun to go live, to meet the Olympics. .Among them, still playing as the first tourism sector, and local shares of Beijing as a breakthrough in the object, the end of short-term adjustment and re-stabilized. . active since the previous Thursday after heavyweight, once turned to quiet - very poor last week, hot plate, hot feel hot money was unknown even turn warrants - but late last week to Shanguo Tou, .Huaxia Bank, led by financial stocks pulled the whole line, and fast. .This approach is not an ordinary body can do, and most likely for the big money in the long wait. . However, these positive signals, were submerged in the fluctuations in the stock downturn. . change is about to begin general, from the historical experience, whenever the amount of the market to slump and lose confidence, they often also the market is about transformation and change in hair .time. .The stock market "to" Bureau of opportunity may have been more and more approaching. . the one hand "austerity" and "supervision" thinking. .The first line, from the point of view of macro regulation and control techniques, the central bank in July in a state of suspended wait; and the beginning of August, the export tax rebate rates in different sectors of the fine-tuning, previews fiscal policy in regulating the way the exhibition will be in the structural adjustment .skill. .In addition, the central bank intends to set up a new department, "Secretary exchange rate", shows the work of national importance for the exchange rate. .Which are macro-control by the "Anti" to "guarantee a control" means the future of the substantive regulation of expression. .Secondly, the Commission work session meeting to be held, Shang Fulin stressed that efforts to maintain smooth operation of the market to do the work of the second half of the capital market reform and development were key deployment. .Which indicated that the improvement of the market transactions, distribution system, adjust the financial structure, improve market supply and demand, continue to strengthen the capital market and legal system, crack down on illegal activities, pay more attention to and actively adapt to market stability and healthy development of requirements, changes in regulatory thinking. . followed by three low-intervention mysterious funds. .From the stock market itself, recently bid farewell to the side finishing the pattern of decline. .July's order temporarily come to an end to cross-Star curtain call on Yang. .In the July 3 record of 2566 points to become the lowest point in the recent market, the recent bottom of the constantly elevated. .This shows that maintenance of stability not only remain in public opinion, and fell a reality. .Recall that the recent low of three days of living index, respectively, July 3, July 18, Aug. 1, the common characteristics are the amount of the previous trading day relative to the amount in the market stage is to .of fear of falling. .In these three days, intraday funds support the market are mysterious and timely intervention heavyweight, fast way to sweep the plate pulled up stock to make it out of the woods. . it shares the attributes of funds is very mysterious, obviously well prepared, and actions are very uniform, clean, sweep speed of cargo entry of the firm, the strength of the strong, amazing. .Mystery of funds forced intervention, effectively dismantled and consumption of the empty side of the arrogance of momentum, and its purpose is to reverse the unilateral pattern of decline, the market set to maintain stable operation. .Assuming that during the three-day rolling operation is not large sums of money are still quiet in the market level, then the total spent so far nearly 600 billion yuan. . mysterious number of funds in the stock low degree of intervention to help rebuild market confidence, help stabilize shareholder mentality, to raise the bottom of the recent and future stock market made a great contribution to the development of .. .So deep in despair sets in which the investors see a glimmer of hope and vitality. . 8 月份 transaction chapter has been opened on the first day the market is full of expectations Yang Xian. .Olympic Games is a global event, I believe China and the Chinese stock market will be brought to a life. .Fluctuated with the price of oil peaked, the decline in China's CPI, changes in macro-control ideas, stock 10-week moving average of the natural rapid decline in the Chinese stock market's "Transformation" opportunity is also in the pipeline. ..

Today, industry news affecting the stock price list.

planes crazy push the price of petrochemical diesel wholesale price in some areas overrun recent days, international crude oil prices remained at 80 U.S. dollars / barrel from top to bottom, the National Development and Reform Commission .the maximum retail price of oil down the window has been completely shut down, which again strengthened in the petroleum, petrochemical pushed oil prices determination. .According to Chong Zhuo information published on August 9 market monitoring report shows that the two giants in the domestic wholesale price of diesel has already reached many parts of the highest wholesale price, and Jiangxi, Shenzhen, Anhui, and even the wholesale price of diesel has exceeded the maximum .limit. . analysts believe that the current round of frenzied push the price of petrochemical planes are from the present north, east, south and other places, especially diesel oil supply shortage caused by the situation. .However, with the second half of the slowdown in domestic oil demand trends in oil prices appears to lack of motivation. . wholesale price of diesel in some areas have been overrun Development and Reform Commission closed down the window, the market for refined oil products is expected to disappear temporarily down. .Recently in the domestic petrochemical planes continued to land more actively push the price of diesel. .August 5, the oil marketing companies raised diesel prices to allocate a large area, the region rose 50 yuan / ton, up outside the 100 yuan / ton. . record this information analyst Huhui Chun Cho said, many areas have been the main domestic price of diesel has reached the maximum wholesale price, and Jiangxi, Shenzhen, Anhui, even more than the price ceiling .. . record information, according to Zhuo monitor areas along the Yangtze River is currently the mainstream of 0 # diesel oil price in 6900 ~ 6950 yuan / ton, 93 # gasoline price in 7800 the main ~ 7900 yuan / ton. . Hu Huichun that: If the recent international oil prices remain at $ 80 is still above the shock, the three rate of change will continue to rise, the NDRC lowered the price can not meet the conditions for a short time, short-term refined oil price .will also be expected to fall down. . supply is the main cause of price increases analysts believe that the recent push the price of petrochemical planes is mainly due to tight supply. .According to Wang energy monitoring information, the recent Beijing, Shanghai, Fujian, Hunan and Hubei, and other regional markets have been a tight diesel supply situation. . Hu Huichun analysis, the recent blue in the oil refining, Daqing, Jinxi, Huajin, Yumen have maintenance plans and other large refinery, Sinopec's refining Cang, Yanshan, the Yangtze is also maintaining devices, .Huizhou refinery has cut other programs. .In addition, Dalian events will transport the oil south to the north blocked the oil, causing the Yangtze River flood control along the route closed in some areas, but also hampered the transportation of refined oil. .Economic Research Institute of Petroleum, said market analysts, floods lead to poor resource allocation and transportation, made some stability in oil consumption of resources in tight urban centers..

Friday, April 8, 2011

This week's most popular stocks pundits: G Tianjin Port.

G Tianjin Port (600717) Shanghai Alliance: to intervene. . today's investment: Buy. . Soochow Securities: Transfer concern. . Bohai Securities: Transfer concern. . Bo Star Investment: see the high line. . Northeast Securities: recommendations concern. . Guosheng securities: an active interest. . Guotai Junan: long-term recommendation. . Jiangsu Tianding: focus. . Hong Kong and Macau Information: outlook good. . Tiantongzhengquan: hot plate. . Guoxin Securities: advantages highlighted. . Huaxin Securities: focus. . Wuhan New Land: attention. . 11 visitors recommend: (1) G Shanghai Airport 600009) 9 visitors recommend: (2) G .on the port (600018) Yatai Group (600881) 8 people recommended: (2) G SAIC (600104) . G copper peak (600237) 7 people recommends: (3) G northerners (600860) G long power (600 900) . G Sea to (000695) 6 visitors recommend: (9) Tong Ren Tang (600085) G heavy ( .600169) G Anyang Iron and Steel (600569) G Su-long power (600584) G Shenzhen Airport (000089) G .Wu operators A (000501) TEDA shares (000652) G in the nucleus (000777) in McNair shares (002021) .5 visitors recommend: (48) G Handan Iron & Steel (600001) G CITIC (600030) G Trinity (600031) ..

Commission meet on January 8 stock issuance examination committee to accelerate the funding process.

China Securities Regulatory Commission announced yesterday, issuance examination committee meeting scheduled for December 16, 2006 issue of the 8th meeting of the Audit Committee's work to examine matters relating to the two starting Guangdong enterprises. . review of this meeting of the two starting micro enterprises in Guangdong Sheng Rong Wire Co., Ltd. and Shenzhen Deren Electronic Co., Ltd.. .From the pre-disclosure situation, Rong Sheng Guangdong plan to issue A shares 15,000,000 -2,000 shares, the total share capital after the issue of shares 59,327,800 -6432.78; Shenzhen Deren A shares to be issued 14,000,000 -2,268 shares, the total share capital after the release of 5600 .-6468 million shares. . issuance examination committee members a total of seven participants, respectively, Wang Lihua, Wu Xiaodong, Shen rights, Han J, Bounce, Jiangzuo Liang, Feng trees. . held from 15 May 2006, the work of the first issuance examination committee nearly a month since the meeting time, the issuance examination committee working meetings have been held seven times, the first of which 1,3,5,6 times .the meeting is to examine public offering (including IPO, refinancing) issues, the first meeting of the Audit 2,4,7 matters of non-public offering. . sources, the issuance examination committee schedule of work for some time was also more full. . Even so, the authorities also warned brokers, some of the share reform is currently financing projects in advanced regions reported to have delayed the trial process, even slower than the share reform backward areas for examination of the process of the project sponsor, also contributed to the "early reform early .income "principle embodied one of the reasons are not obvious. .Therefore, I hope the share reform in advanced countries to speed up the investment bank brokerage for examination of the progress of the project. .(Zyw) .

Dongsheng price manipulation? Support odd movements more than 6000 million.

: News, Dongsheng Technology's weird trend continues! .After 3 consecutive daily limit, daily limit 5, the Topsun Science and Technology yesterday finally get rid of "fate", open daily limit, and rose 8.51% to close. . market Topsun Science and Technology of the Voice of challenge not to end there. .After 5 days of limitless limit down after yesterday's huge disk volume, turnover of up to 33.07%! .There are signs that investors suspect that making malicious manipulation. . 6000 million bidding limit-down morning, the technology to hit bottom out after massive pay was quickly pulled, only they call auction time period, 10 million transactions .shares, representing 16% of float caps Topsun Science and Technology. .Since then, its stock price shock plate, eventually closing fixed in 8.51% increase. . data after the close of the day, a total turnover of 20,626,300 Topsun Science and Technology hands, accounting for 33.07% circulating A shares. . "close on Monday, Topsun Science and Technology has more than 800 million shares daily limit on the closure list, and 1,000 shares on Tuesday morning call auction trading, it can be said to throw one of these clean sweep. Then the average transaction price is .6.03 yuan, 1,000 million implies the need for more than 6000 million of capital, which is obviously not an ordinary individual investors can do. "securities veteran Zhang Hong mind that this situation there are two possibilities, one is inter-agency inverted position, .The other is a body scan in the low-cost goods. . Tung Shing Group of price manipulation? . suddenly limit, limit down suddenly strange trend that Topsun Science and Technology has recently attracted much attention. .Time, the company announced, its stock price limit, lower limit of the time so "coincidence", leaving some investors doubt the major shareholder Tung Shing Group suspected of price manipulation by the message. .Notice here there disclose, Topsun Science and Technology for alleged violations of securities law, criminal investigation by the SFC. . in Sohu's blog channel has called the "QU888" netizens pointed out that the major shareholders Guo Dongsheng, chairman of the Group of school as early as 8 months prior to the announcement by the company with the dealer channel for speculation. .Many users believe that, "QU888" seem to know a lot of inside information. . 2006 年 3 25, Topsun Science and Technology issued a notice, saying that earnings per share of 0.19 yuan in 2005, compared with 0.16 yuan per share in 2004 increased. .20 A few days later, begin to exert upward Topsun Science and Technology, an increase of 50%. . 2006 年 4 26, Topsun Science and Technology issued a notice of quarterly results, earnings per share 8 cents, net profit fell 19%. .The main by the bad news whipsaw day shares fell 4%, then continue to limit the form of upward attack, May 16 to 11.55 yuan, the stage rose 60%. . .

Ulterior motives "dead not to sell," allegedly used to mislead investors.

: Http:// News, recently a song called "dead, not to sell," Song of the investors in the shares is very popular, easy to see from the lyrics, the song is really misleading investors. .Of course, this song has been able to share the first widely popular, that it still has some basis, to a certain extent is true portrayal of the current stock market, reflecting the current market madness. .In the current stock market, a stock whenever they rose two per cent, three hundred, even if some do not support the ST stock performance, stock prices also pulled seven or eight dollars or even higher. .Faced with this situation few kilometers from heaven, in the face of many stock prices doubled Zaifan that has become the current stock price doubled the basic requirements of investors, so This has been to ignore the broader market is bullish or look bad, as long as .I sell you double, this has not give me double not happy, do not rise to palpitation not happy, do not wait until the boom is not amused. .Every recent pullback will eventually pulled up, one up one down so investors are not afraid to fall, the feel of a purchase money will be very happy to enjoy the moment do not be afraid to fail hold-up, even if .deep-set does not sell. .Can be said that this song's lyrics reflect the first shares of the current investors in a state of mind. .Tips from the investment perspective, the bull market really need to cover their share, in the current round of bull market, many stocks rose to a seven or eight times or even ten times, if the investor can cover down, no doubt to become the big winners, and .to the contrary, those who were running in and out in the stock market does not necessarily cover their shares outperform those who do not move. .It is based on the current status of the stock market and the bull market this crazy need to cover their share of the investment techniques, "dead not to sell" to meet the investor psychology, and thus the network is widely spread and investors. .But this was the first song the presence of stocks of misleading investors. .Because this song has laid a mark on the current stock market, so its greatest feature is the same --- with the current crazy market, there is no risk awareness. .While we recognize the need to cover their bull market in stocks, but the world does not only rise and not fall in the stock market, and no stock can only rise and not fall. .Shanghai and Shenzhen stock markets rose from 998 points to 4300 points or more current, or more than 300%, this increase is very alarming, some individual stocks rose much more than the gains. .In this case, the risk of the stock market has accumulated a large, relevant departments are often in recent times have introduced control measures and regulatory measures, which actually is in order to curb the excessive stock market speculation, therefore, apparently shares that blind cover .is not desirable. .The right investment approach should be the flow, when the stop loss will stop. .If you still do not blindly dead cover their share of land sales, ranging from the loss appeared to be hand led to their own profits, is likely to re-locked at a high level on their own. .We should also see that if the investor bought the wrong stock --- for many new investors, buying the wrong stock is a normal thing, still persist in dead do not sell, then I am afraid to wait for them to really .cover to the fate of death. .Moreover, the dead do not sell too obviously inconsistent with the spirit of the parties concerned. .Commission stressed the need to further strengthen investor education, enhance risk awareness of investors, and promote the healthy development of the stock market. .But the "dead not to sell" Quedui investment risk turning a blind eye, contrary to the spirit and investor education. .It is also based on the "dead, not to sell" high degree of indifference on the investment risk, do not rule out the song the first unit will be used by people with ulterior motives, use it to paralysis of investors, especially small and medium investors in the new investors are not dead .the case of selling, they can take advantage of a smooth delivery purpose..

Hong Kong, Mainland investors collectively account flows greater and greater influence AH.

: Http:// News, Tai Fook Securities in Hong Kong Executive Director and Chief Operating Officer of Nelson Lee, said yesterday that mainland investors to Hong Kong this year, the number of accounts increased significantly. . learned that customers in the Tai Fook Securities, the mainland two years ago, the proportion of customers from 10% to 20%, increased to nearly two months of 30% to 40%. .Compared with the local customers in Hong Kong, Mainland investors are more aggressive investment strategy, transaction amount higher than local investors in Hong Kong. . "Mainland investors to Hong Kong account the increase was mainly due to A-share market index is high, while the Hong Kong stock market's price-earnings ratio lower than the A shares, the investor to spread investment risk." Tai Fook Securities in shareholder Nelson Lee .the General Assembly on Wednesday. . Nelson Lee also estimated that this year's A-share market volatility is more significant, the loss of more investors. .Mainland investors increase the number of new accounts in Hong Kong, the situation will continue, to benefit Hong Kong's domestic securities industry. . Sales Manager of the Hong Kong Securities told the "First Financial Daily", Hong Kong from Shenzhen at Lo Wu, Sheung Shui, less than 10 minutes, Mainland investors withdraw money from accounts and convenience, in the .business department of water the number of mainland investors to open accounts at least 50% more than last year. .Many investors clearly are directed at the mainland to Hong Kong before opening, and in previous years, tourists from the Mainland tourist shopping in Hong Kong first and then the way to open an account in a different situation. . "their experience is very rich, have a special just speculation 'penny stock' (penny stocks), there are only the sale of large state-owned shares. Overall, more daring style of Mainland investors, like fast-forward .faster. "The sales manager said that as the surge in the number of accounts, brokerage firms have set up 25 million dollar threshold for mainland investors to open an account. . Shenzhen, a small brokerage official told this newspaper in 2004, it will cooperate with Hong Kong brokerage, because then A shares market is poor, in order to avoid loss of customers. ."Some of the big business in Hong Kong brokerage (last century) began to provide 90 years of service linkage Shenzhen and Hong Kong, so as we have such a small brokerage in order to prevent customers being taken away, only to cooperate with Hong Kong counterparts ahead of time." </ .P> Guangdong residents of Hong Kong stocks has long been speculation is not news, speculation in recent years, the wind has been extended to Hong Kong stocks in Shanghai, Beijing and Dalian and other cities, and some second-tier cities in China have scattered investors began trading Hong Kong stocks through the network. . HKEx Chairman Ronald, said yesterday that he did not know Hong Kong stock trading investors to participate in the mainland, but he believes the participation of mainland investors will not make Hong Kong stocks fluctuated as investors in Hong Kong stock market .to diversify sources of non-Hong Kong a large proportion of local investors, they know how to analyze market conditions. ..

Shenzhen Stock Exchange issued new rules to curb speculation in the first day of IPO.

: Http:// hearing, the reporter learned from 9 from the Shenzhen Stock Exchange for the first day of the recent IPO phenomenon rose too high, the more effective the first day of listing of new shares to curb excessive speculation and protect the legitimate rights and interests of investors, which are 10 .Japan will release "to further strengthen the SME board on the first day of trading stock market monitoring and risk control," which issued on September 14 last year, the "Strengthening SME Market Listing on the first day of trading risk control notice" shall be repealed simultaneously. . learned that the original "notice", the new "notice" is mainly characterized by three characteristics. . an increase of the number of temporary suspension, to extend the suspension. .Apart from the original disk to ± 50% amplitude and ± 90% of the suspension for 15 minutes, the increase in intraday gains with the provisions of the difference between opening gains to ± 150% for the first time, and ± 200%, the Shenzhen Stock Exchange, respectively, of their provisional .30-minute suspension of risk control measures. . Second, the enhanced transaction monitoring means. .Supervision of Shenzhen Stock Exchange market close monitoring goalkeeper listed on the first day of the commission and the deals for the occurrence of large centralized reporting through continuous reporting, reporting, etc. of high prices of securities trading or securities trading volume of the significant abnormal trading in the account limit will be taken .transactions reported to the China Securities Regulatory Commission investigation and other measures, and restrictive trade measures plate provides for a special implementation process. . Third, strengthen the security company in the first day of IPO trading compliance and risk control in the responsibilities and obligations. ."Notice" requirements of the securities companies should strengthen investor risk education and trading standards and guide behavior, and actively cooperate with the Exchange's self-regulatory work; not responsible for the securities with the company, the Shenzhen Stock Exchange will be given in accordance with relevant provisions of its disciplinary .. . Shenzhen Stock Exchange, the person in charge once again solemnly remind investors especially small investors, to fully understand the potential risks of new stock trading, rational investors should not blindly follow the trend of speculation, and timely attention to the risks associated with the Shenzhen Stock Exchange Tips .and temporary suspension notice. ..

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