Category: Money tips Release Date: 2006-05-11
1, today headlines:
China's capital market will achieve functional transformation
According to "Shanghai Securities News" report, recently released, "the CPC Central Committee on the development of economic and social development of the 10th Five-Year Plan" suggests that "positive development of stocks, bonds and other capital markets, strengthening the basic system construction, the establishment of multi-level market system, improve market functions and improving the proportion of direct financing. "This statement has caused experts a strong response that the Chinese capital market to achieve functional transition can be expected. The "positive development stocks, bonds and other capital market" new formulation, Dr. Li Qingyuan personal opinion, this shows that the central elements of the capital market is an important component of the market's profound understanding, which is a further ideological emancipation, the concept of the further deepening of the theory, the concept of deepening the deepening of the reform is bound to play a guiding role. Renmin University of China Institute of Finance and Securities Wu Xiaoqiu also believe that this new formulation shows that the central authorities have fully recognized the strategic importance of capital markets, but also implicit in the positive developments in the stock market at the same time, we must vigorously develop corporate bonds as the core the significance of the bond market.
Comments: Central level awareness of the stock market is directly related to long-term development of China's securities market, as Wu Xiaoqiu said, before the capital market, financing is often understood as simply a place, focusing on the incremental allocation of resources to become a business taking money from "money pool." The Hong Kong listed companies to be higher than the market or the U.S. market several times the price of issuing shares, as much as possible in the stock market more "means for misappropriating" financing function has been fully played, but the majority of the interests of investors are subjected to a serious injury.
Second, the domestic Financial Focus:
In deepening the reform to promote the healthy development of capital markets
According to "Shanghai Securities News" reported that recently, Wen Jiabao by the Central Political Bureau of the commission, on the "CPC Central Committee on National Economic and Social Development, the recommendations of the Tenth Five-Year Plan (discussion paper)" explanation. Premier Wen Jiabao pointed out in the notes to speed up financial reform, which is the overall situation of reform and development, an important task, is directly related to the country's economic stability and security. To deepen the reform in promoting the healthy development of capital markets. In a comprehensive analysis of all factors, based on the "Proposals" put forward the "Eleventh Five-Year" period, the main objective of economic and social development, including economic growth, resources and environment, innovation, social development, reform and opening up people's living standards and democratic legal system aspects.
Comments: National Prime Minister personally to "the CPC Central Committee on National Economic and Social Development, the recommendations of the Tenth Five-Year Plan (discussion paper)" make it clear that this can be seen the central purpose of making people pay more attention and a clear understanding of the "Proposal" important nature's intentions. "In deepening reform to promote the healthy development of capital markets," This is a reporter for the Prime Minister's speech summed up the essence of the first "reform" after "development", which is the current status of the stock market a true reflection of the long-term for the healthy development of China's stock market, we are now we must first introduce the share reform.
3, the industry new trends:
Social capital and the proportion of foreign ownership of financial institutions to be relaxed
According to "China Securities News" reported that the Deputy Secretary for the People's Bank study Jiao Jinpu, said yesterday that the state will allow the existing social capital and foreign equity participation in Chinese financial institutions, to encourage social capital and foreign investments in small and medium financial institutions, restructuring and transformation, and Appropriate relaxation of social capital and the proportion of foreign ownership of financial institutions. Hefei, China at the First Conference on international capital transactions, Jiao Jinpu that the state, "Eleventh Five-Year Plan" has been basically developed in the next five years, China's financial reform and development of a critical period, but also the development of direct financing of enterprises in our country a good period. To speed up the reform of financial enterprises, improve the corporate governance structure. Salient point is to further improve and perfect the internal mechanism of joint-stock commercial banks, deepen the reform of asset management, and steadily promote the reform and other small and medium financial institutions restructure.
Comment: In the course of opening up the financial industry is facing opportunities and challenges, one of the largest industries, the financial industry is a lifeline of the country's economic mainstay and the state are bound to have the relevant supporting measures to protect and support. From the Shenzhen Development Bank of China foreign mergers and acquisitions news, we see that foreign investment entering China's financial firms are stepping up the pace of financial stocks on the two cities is speculation this is a good theme. (Your opponent on the price of the stock held by the program satisfied? You think a reasonable price should be the right number? - Soon send short �letter to vote! Write "JF01 or JF02", 01 on behalf of "satisfactory", 02 stands for "unsatisfactory." Mobile users sent to 2.9116 million + stock symbol (eg, 2911600600104), China Unicom users send to 9.9016 million + stock code)
4, the listed companies to track
China Construction Bank IPO funds to attract 76 billion U.S. dollars
According to "Shanghai Securities News" reported that China Construction Bank public offering of new shares in Hong Kong, the enthusiastic response, according to information provided by Bloomberg, to yesterday's deadline for the IPO, China Construction Bank IPO attracted a total of 76 billion U.S. dollars of funds, access to nine times the planned fund-raising. China Construction Bank shares will be tradable form of H shares on the 27th of this month listing on the HKEx. It is reported that Hong Kong residents to apply for at least 160 billion dollars in stock, is 40 times the amount of the Placing, including the funds, corporate investors, including institutional investors subscribed for 60 billion U.S. dollars scheduled stock. China Construction Bank has been sold to individual investors in Hong Kong to 13.243 billion shares, pricing ranges from 1.90 to 2.40 Hong Kong dollars; the rest of the share placement to include the Fund, Bank of America, institutional investors, including Temasek. China Construction Bank is expected to become self-June 2001 KraftFoodsInc. (Kraft Foods) since starting the world's largest IPO.
Comments: Yes, business seems to have come to go overseas markets, while in Shanghai and Shenzhen markets are mature businesses that are in development, listed the calendar year when the performance is often the best, but also reached a stage The high point, followed by a sharp price decline that is to follow the performance. And there are point to note is that the same is an enterprise such as Sinopec, the domestic issue price is triple the offering price in Hong Kong, foreign investors can buy shares at prices more favorable, a significant reduction in risk, while also received a higher return on investment, since the A shares, H share offering price of serious non-reciprocal, H shareholders simply do not deserve the right to compensation on the price.
V. Tips for today's operations
1150-point resistance against pressure tape
Continuous active stocks on the KLCI Quotes will be pushed to 60-day moving average near 1150, but the heavy sell-off began to emerge the broader market fell Zhubo meet resistance down, an hour is late emergence of panic decline trend, because Fund in the blue chips on the ship's intention is very strong, at the same time seriously dampen market sentiment on the stock also constitute a greater pressure. Shen Chengzhi-head shape has been established, top-down quite enough to sell into kinetic energy is expected to near the previous low of 2600 would have real support for the emergence of double-headed form of the theory of decline is also in the vicinity of 2600 points. Lifeline on the KLCI in the half-line, as long the last line of defense, if passed, is effectively breakdown, it will trigger a new wave of the arrival of a fall, and adjust the target directly at 1000 points, so the operation in the near future, we Everyone is still recommended in order to trim the main rallies.
