Category: Money tips Release Date: 2006-06-30
"Although the system becomes more complete, the market getting better and better, but the future we will be more difficult for retail operations. Effect of China's stock market is a profitable market for guidance, take a look at the market now warrants more than a fire ah, I believe that stock index futures with a more attractive. They are not yet know the exact launch time, but now have to make early preparations, and the first bar in the warrants on the training practice. "for the gradual and progressive line of stock index futures, the old retail Chen says with emotion.
Two days ago, in "The Third Shanghai Derivatives Market Forum", the four appointed Chairman of the SFC, as well as Vice-President in charge of futures, futures director of leadership, etc. will all be present. Of the China Securities Regulatory Commission Chairman Shang Fulin said at the meeting, China Securities Regulatory Commission is stepping up efforts for the iron and steel, oil, rice and other bulk commodities futures making active preparations for the launch at the same time to speed up development of financial futures, the preparatory work will be a timely introduction of stock index futures.
Interviewed analysts generally agreed that, as the first financial futures futures varieties, the introduction of stock index futures is no longer suspense, it is estimated the underlying index CSI 300 and CSI 100 index options. For the launch of a specific time, they do not expect too long, in August to the end of the year is possible.
Heavyweights highlights the value of
"Introduction of stock index futures is no doubt A-share market system construction of a major breakthrough in a favorable market's healthy development." R & D Center Shanghai Securities Investment Advisory Manager Guo Yanling that the introduction of stock index futures will be the country to form a multi-level capital market, a big step forward. The impact of the market, from the short term, the index futures market might attract some of the initial stock market funds, especially for the institutions to avoid systemic risk capital and some speculative funds. However, the overall and long-term perspective, the introduction of index futures, stock trading will promote active and reasonable price volatility, making the stock market is more healthy development.
"For the board, stocks mainly reflected the impact of the top heavyweights in the broader market." Guo Yanling that because the underlying index as the stock index futures are generally blue-chip index, while the sample of stocks of these indices, in addition to giving them a pricing fundamentals, but also to provide more trade-related opportunities. Such as the Hong Kong market index futures settlement day when the heavyweight performance of the change is often divorced from fundamentals.
Statistics show that overseas securities markets, the blue-chip index are generally the market benchmark index, and these blue-chip index, the market trend in general is better than the market's overall trend. Thus, there are analysts believe that, due to broader market heavyweight will have more value, and therefore before and after the stock index futures market will have higher chance, and thus be able to drive a strong market.
Retail operations more and more difficult
"In the future individual investors will be increasingly difficult, because the amount of technical quality and financial reasons, they will be difficult to use stock and stock index futures markets operations, to enjoy the benefits of avoiding systemic risk. So even if their participation in the stock index futures, generally is pure speculation. "Mr. Chen believes that the introduction of stock index futures market institutions will aggravate the game features, but most retail investors would choose to entrust" expert financial management "approach.
Analysts also believe that the introduction of stock index futures, QFII, social security funds and insurance funds and other large institutional investors into the stock market would increase the proportion and intensity of the composition ratio of market participants will be further divided. As the June sale of shares outstanding after the limit of the gradual thaw, the existing non-tradable shareholders will also become a super market, the main. No wonder there are market participants quipped that, in these super-large main front, and now the fund would probably be the largest retail, and now the majority of the retail will be added to this major retail group.
Training in the warrants market,
"I'm going to go inside the stock index futures market, Bo 1, although the limited funds can not do arbitrage, But, many years of experience should still be able to deal with about it." Mr. Chen's speculative mentality heavy.
"Not every one of the investors are now Zuo Gupiao suitable for stock index futures." Guo Yanling remind investors, many stock investors are not suitable for the present to a very strong speculative futures markets. Such as funding, relatively poor mental endurance, age, relatively large, usually can not do a rational operation of investors. At the same time, she also suggested that investors should try to know more about stock index futures trading rules and principles and to strengthen investment planning and discipline.
"In fact, there is the idea to do index futures market, investors in the warrants more than practice. On T +0, relatively large fluctuations, psychological pressure and other characteristics, which is almost two markets." Mr. Chen will be the challenge of coming confident, and has been active preparations.
