Category: Money tips Release Date: 2007-05-04
Source: Guangzhou Bandung
Abstract: The temperature often failure, the market continues to approach a new high. Management may ignore the policy of the mad cow cooling signal to lose patience with the policy minefields into the market again, may lead to bad policy. This means that more than 4300 points of the game market and policy heated up again. In this context, the market will do what kind of trend.
Repeated cooling failure, the market continues to approach a new high. Management may ignore the policy of the mad cow cooling signal to lose patience with the policy minefields into the market again, may lead to bad policy. This means that more than 4300 points of the game market and policy heated up again.
1, Meng Niu the management of high tension to stimulate the nerve
Despite the recent high-fat cool repeated signals, but the bank is to investigate whether illegal funds, or the Shenzhen Stock Exchange to remind investors of risk, markets are indifferent to what it wants continued upside, the index record high short-term almost no suspense. This is obviously the management control, "ridiculed" and directly sign the policy objective of creating a temporary failure of Manniu.
The Meng Niu coerced with the influx of bank savings deposits roaring. The first is for the securitization of state assets and gradually the main objective of the capital markets, the current continues to boost the development of mad cow, is nothing short of Banded. Secondly, it is even more serious financial risk to the chain undermines the inconvenience, increasing the size of the stock market continues to rapidly rise, the trend will become far too cumbersome. This is just like falling house prices will be brought directly to the recovery of bank loans as large risks, so that the policy may end up then a legislator. Therefore, early than late control regulation.
Can be said that the sustainable development of Meng Niu has stimulated the already high tension in the management of nerve. We often see that every time the market's most frantic moment, often the period of high policy risks.
Second, summing up repeated missteps control, management will see what new tactics?
The effect of the past several regulatory point of view, are not always, is inadvisable. There may be two main reasons:
First, the policy does not have a systematic and coordinated the arrangements and preparations, often appear in the government owns a multi-and variable disorder, the typical is introduced, such as stamp duty on rumor earlier in the post-embarrassment. In the face of such a policy confusion in the context of the market inevitable twists and turns, which has aroused public policy control is obviously the main reason has been criticized.
Secondly, in the policy is in shambles, under the table, like, you may be interspersed between sectoral interests, and disputes. Interests of all parties are not unified, is a deep-seated reasons for the failure of regulation. Otherwise, the policy will not appear after the first panic rescue control, direct wake-up investor confidence in a more frenzied speculation.
So, if followed by regulation and control, in order to avoid recurrence of such cases, management may be to strengthen the coordination between the interests of the department and, in the systematic arrangement under the control policy.
This column that way from the specific point of view, continue to increase funding to combat illegal. From the supply point of view, speed up the largest non-holdings, and selling the stock of non-tradable state-owned shares in order to increase market supply efforts to stabilize the market was overheated to change the psychology of investors to over-optimistic expectations.
From the way for the introduction of measures in order to avoid too drastic impact on the market lead to social pressure is too large, it may be moderate and gradual. And to learn from the lessons of 5.30 to improve stamp duty may be leaked in advance to pre-control practices, psychological expectations of the market ahead of cooling.
3, with the index close to the former high, the market and policy game will once again heated
From the policy side, the Man Niu trend will be its pursuit of the ultimate goal of trying to get into the market from the mad cow Manniu fundamental purpose of the policy. From this point of view, Meng Niu was likely to face greater regulation of the pressure.
But the market in the part of the policy aspect of the mainstream funds did not dare touch the market collapse of the cards (to ensure rapid securitization of state assets to complete and maintain market confidence, persistence to achieve the savings banks will continue to undertake State-owned securities market), it is likely that the policy control of the machine through the use of their information advantages to readjust the structure of its own positions.
On the other hand, the market expectations of investors may be introduced if the draconian policies under the pressure of cooling, and thus to some extent restrain irrational market rose. It may also significantly alter the trajectory of the policy, so that to reduce the probability of bad policy implementation.
In general, Meng Niu led to introduction of the main factors control policies, while the market is gradually return to rational policy is able to effectively resolve the wind direction, reducing the possibility of draconian policies introduced.
