Category: Money tips Release Date: 2006-09-14
Source: Shanghai Securities News
"5.30" plunge in the Shanghai stock market fell nearly point, though there have been a strong rebound, but with the bad news of the impact of the broader market fell again. This week, five to enlarge again after shrinking in the volume of a robust rebound in the next tape, but the Shanghai stock market trading volume is still in 1000 billion with, afternoon sustainability heavy volume is a matter of concern.
With the broader market continued higher, Shanghai stock market since January this year began trading volume of more than 100 billion yuan, January 22, 23 of the 104.8 billion yuan, 1106 billion in daily trading volume has been known as the days volume. "2? 27" big plunge turnover of 131.5 billion yuan the day, known as the new heavens volume. However, in March, the Japanese multi-billion dollar transactions have become commonplace. Since beginning in April, in addition to the first day of trading less than the multi-billion dollar, the Japanese daily trading volume in billions of dollars more, "5? 30" drop is a record of the current round of the new heavens and the amount of 275.5 billion yuan Quotes. However, the five trading days this week, daily turnover in billions of dollars are following them the whole story to be examined.
First of all, the changes in funding surface fundamentally shaken to promote Quotes of "physical." It is estimated that, in accordance with the current 0.3% stamp duty rate, if the daily turnover in Shanghai and Shenzhen 200 billion yuan the day's transaction costs (commissions by 0.2%) to reach 20 billion yuan, annual need for 500 billion yuan. However, last year, more than 1,400 listed companies, only 370 billion yuan net profit of only cash dividends is only more than 1160 billion yuan. That is to say, all wage earners to create profit for one year and receive the daily wage is not enough transportation costs, so workers try to live in or near the factory, less travel; or continue to ride every day, but eat only at their own cost.
Secondly, making separate ways, the transaction costs and greatly increased the speculation that they face difficulties. Insiders all know, the stock hit up to right down the share price down to be playing right down, and speculation of the stock to attract people have to right down heavy volume. Today, substantial increase in transaction costs, only to push up the price significantly and attract buying to follow suit, in order to transfer the cost of speculation. Recently, however, the market is too low, pull up the stock price even more difficult, so many bankers can only sit and wait for the timing of speculation.
Again, for many short-term customers, the new environment so that they can be difficult, "beats." Most of them were originally sought in each round in the corner or even earn a few pennies here, but a substantial increase in transaction costs, so that the success rate of operation greatly reduced. The Stock Quotes inactive also make them out of stock speculation and instead put warrants or closed-end fund speculation. It is understood that June 26 of 137.2 billion yuan trading warrants, while the Shanghai stock market day trading volume is only 126.6 billion yuan, indicating a lot of short-term passenger had been "abandoned unit from the right."
Shanghai stock market this week, the daily turnover of 91.2 billion, respectively, 874 million yuan, 73.7 billion yuan, 756 billion yuan and 94.2 billion yuan. When the Monday, Tuesday just shrink to 100 billion below the turnover, the broader market also were up by 15 points and 63 points. But with Wednesday in the petrochemical and banking stocks appear Budie of selling plates, the weak accept disc only losing ground, so that the day pulled out 83-point Yinxian, broader market tumbled 200 points Thursday, but the volume has dropped from the day of 73.7 billion yuan to 75.6 billion yuan to enlarge, Friday once again to enlarge to 94.2 billion yuan turnover, the broader market finally rebounded sharply. This shows that the volume of the stock market's survival, "forage." In order to reduce the "transportation fees", the market promoting their "energy" is probably the helpless choice.
Friday's stock market in large volumes of cases, showing a strong rebound, while the broader market to sustain its rise in the need to constantly enlarge the volume, from the short term, broader market re heavy volume may not be a big problem, but think of the stock market "transport fees" is so expensive, the long run, Shanghai and Shenzhen stock markets in the end be able to carry how long is cause for concern.
