Category: Money tips Release Date: 2007-03-20
Shanghai Tang: 10 yuan warrants or angle into two
The introduction of China's stock market has been the nature of the placement of shares with warrants warrants. The first warrants product is launched in 1992, Shanghai stock market stock Feiyuegufen allotment warrants in the future is Gold warrants, Shenhua warrants, in 1995 and 1996, Shanghai stock market launched Yueda, Fuzhou, East 100 and other stock warrants. Xiamen and Shenzhen rolled out over Haifa, Guiliu Gong, Fujian Fujian, Fujian Fu-fa, Cabernet Franc, Kyrgyzstan and light industry, Hunan Zhongyi, Baoan card stock warrants.
Shenzhen warrants speculation by the "Baoan warrants" trigger, which warrants from 4 yuan rose to 20 yuan. The most surprising is "Baoan warrants," the intrinsic rate of return is always negative, with the warrants expired, plunged into a pile of waste is inevitable. But this does not prevent the outbreak of warrants speculation.
Warrants a major benefit to occur in early 1995. In November 1994, the first fry some of the main funds, to the speculation warrants began in December. From the Fund to the C of E, and a message about: Xiamen Haifa, Kyrgyzstan, light industry, such as Hunan and Italy announced that six companies, the public warrants temporarily allotment, transaction postponed until the end of 1995 (later extended to June 1996), If the company dividend share placements, warrants increased proportionately.
This attracted a lot of speculation in hand. Ha Haifa, Kyrgyzstan A light switch with the right of resumption of the opening price after the stock price even higher than the positive, respectively, up to 6.78 yuan and 5.24 yuan; and Kyrgyzstan positive light more than 3 yuan price was astounding.
One unit to the age of 14 years, Mr. Chang, "Daily Economic News" about his early years, witnessed the scene.
In early January 1995, Shanghai Zhongshan South Road near the theater Wanping a securities business department, commission the counter a 35-year-old man lost consciousness in the past (when only artificial commission is required to buy Orders filled), the counter staff said that this person have bought "Yueda warrants," the cost of nearly 10 yuan to close the day has been less than 0.2 yuan, 150,000 yuan is almost all of its principal optical loss. According to Mr. Zhang said at the time investors simply do not know why the matter warrants, but blindly follow suit, they do not know stop.
Early on, the price is 7 yuan, Jiangsu Yueda more allotment price of 4.50 yuan, while its warrants up to as much as 10 yuan. But did not last long, dark hair and Fuzhou City, Fujian Fu-Tung 100 A2 leading new warrants. At that time the stock market, the 12 companies listed is no small expansion, the overall dish was too small, the stock also, but dozens. As a result, Shanghai and Shenzhen high-priced warrants all the way down to the last few days, the extreme right off when playing a single day is also a common occurrence (at that time no Price Limit).
Warrants or a period of time, the media prompted concern in the risk of gradually more and more and more people are slowly beginning to understand the warrants, any discerning person fled the stock market, but there is still the NPC to buy up to 3 yuan or even 4 dollars A2 warrants.
