Category: Money Tips Date: 2005-12-19
Since last weekend, in addition to the Shanghai and Shenzhen Stock Exchange, promulgated "Interim Measures for the C of E Business Management", the stock market did not see be able to directly stimulate the formation of the message. This week, the two cities continue to follow the broader market last Friday's weak adjustment, the two cities turnover hit a new low recently. Attention to warrant the opportunity to
Warrants are securities of foreign markets are more mature species, in recent years been developing rapidly. According to the "Interim Procedures", apply for warrants listed in the SSE and its underlying securities as stocks, the underlying stocks listed on the day of the application should meet the following conditions: the last 20 trading days the market value of outstanding shares is not less than 30 billion yuan; recently 60-day cumulative trading turnover of 25% or more; the outstanding shares of capital stock of not less than 300 million shares.
In fact, the old shareholders of financial instruments for the warrants that are not familiar with the features and functions. Shanghai stock market launched in 1992, once one of China's first C of E: Tai Fei Yue allotment warrants. At present, warrants product launch, on the surface is to solve the split share structure of listed companies to provide a tool. In fact, from the current pilot program of the company's view, only a very few companies used in their programs warrants tool. As the warrants primarily of price discovery and risk management functions, it is a risk management and effective tool for the allocation of resources, so that two more warrants released main purpose is to follow the market for product innovation and the urgent need to improve the securities market a variety of with different risk-return characteristics of financial products, systems, development of internationally accepted, and has a wide range of applications independent financial products.
Warrants is a leverage effect with the high-risk financial securities products, with a certain degree of investment risk. The main risks include: the risk of price volatility, timely, risk and compliance risk. Although the high risk warrants, but it really can give small and medium investors huge returns, a good tool for a small broad. In the current market is depressed and released, or at least to provide investors with a number of new opportunities. The Baosteel may take the lead in issuing warrants, to when we will pay close attention to these opportunities.
B shares into a leading indicator
From this week, one of the disk situation, if the A shares can already be regarded as "Black Monday", then the B shares can really claim to be a black-on with black, among them the Shanghai B shares continue to fall 7.44%, pulled out of the larger entity than the last Friday of the Yin Xian, and the volume reduced; Shenzhen and the Shenzhen B component B means that fell by 5.23% and 5.94%. The B share index fell sharply as the reason, we believe that apart from the yuan appreciation is expected to impact, mainly constrained by its own internal restructuring and the stock split share structure reform in the organizational problems. From the technical point of view, although the Shanghai B-share index only reached a June 31, 2000 the lowest level since, but if from the highest point in June 2001 fell 241.61 points, it was down is also alarming, nearly 80%.
Well, this much short of the wind will spread to the A shares? We believe that the Shanghai Composite was below 1000 points, after the panic sell into the possibility of quite large. In fact, the recent drop in the extent of A shares is not small, but has been overshadowed stock index was down to just. In last Friday more than 200 stocks fell more than 5%, 30 stocks lower limit of the circumstances, there are 331 stocks Monday fell more than 5%, nearly 50 stocks lower limit. Lower limit in these stocks, there are many continuous lower limit. It can be said that yesterday's index was also able to maintain a smaller decline in the trend, with funds Baxianguohai separate ways, has much to recount.
Be sure to look at a small fixed
Can be said that hot spots can not say that yesterday's market, small, almost covering the fund, brokerage, investment capital, the mysterious and all other funds can cover. Can even say that the performance should have done a performance, should make efforts to have done the effort. However, in active behind the most fatal weakness is also very easy to see out the rise of these stocks have not been effectively Liangnengpeige is still the only protection in a non-attack state. From the actual results we have seen, after all, still can not save the market's downturn, which shows the current trend within the broader market is still quite weak.
Judging from yesterday's closing stock index re-approaching 1000 points to close points are also just above the July 11 closing point of 1011.49 points. From the common sense point of view, broader market this third point fall 1000 there will be a weak ball should bounce, but if part of the broad-market index heavyweights started to give up resistance, then the A shares would most likely step in this week's lead B shares . In any case, investors in this third time the ball fell to 1000 points or less is better touch. In the 1000-point mark this integer was punctured, before the market is not able to form a real panic sell into, make sure to to wait and see the main. (Zhang Yaliang (Niu Ben))
Edition by the statement: in this body, I am informed by the context, this body, I as well as the property of the stakeholders with the evaluation of the securities has no interest.
Edition article is purely personal point of view for reference purposes only, Wen responsibility conceited. This move would own risk.
