Category: Money tips Release Date: 2005-12-27
Financial Highlights Zhou Xiaochuan freely about the exchange rate reform and trade balance. For the Sino-US trade deficit and the RMB exchange rate issue, the PBOC Governor Zhou Xiaochuan of the State Council Development Research Center recently hosted the "China Development Forum," Exchange Rate at the meeting pointed out:
Yardstick, China's foreign exchange reserves per capita is not high
Let the market supply and demand to gradually play a greater role in exchange rate fluctuations
Accused China of "manipulating exchange rates" would not be broad support for
China will take 2-3 years to achieve trade balance
Enterprise Community Chest, April 1 system, since discontinued. According to authoritative sources, in order to interface with the new Company Law, the Ministry of Finance to require all businesses with effect from April 1 to stop the implementation of the Community Chest system; on the treatment of the balance of the Community Chest, the Ministry of Finance has also been to turn them into a surplus reserve of the findings. This accounting treatment in accordance with the provisions of the Ministry of Finance, a listed company is retained by the Community Chest of 76.9 billion yuan and will be used to make up losses or Zhuanzengguben.
Annual Report of the three blue-chip appearance Baosteel net profit by 34.8% last year. Performance decline in a number of iron and steel enterprises in 2005, Baosteel has witnessed strong growth in the implementation of issuance, the earnings per share to maintain the level of 0.72 yuan. The distribution plan is to distribute cash dividend for every 10 shares of 3.2 yuan (including tax). Huaneng Power International last year, to achieve earnings per share 0.40 yuan, down 11.11%, due to high coal prices. Allocation plans for every 10 shares of the cash dividend distribution of 2.5 yuan (including tax). Shanghai Zhenhua Port Machinery last year's earnings per share was 0.78 yuan, up 160%. The company's profit distribution and Zhuanzeng plan is also very attractive: for every 10 shares of RMB 2 to distribute cash dividends (including tax), distribution of four shares for every 10 shares of bonus shares, the use of capital surplus Zhuanzengguben shares for every 10 shares Zhuanzeng 6.
Stock Market Comments The domestic market: Quotes entered a frantic round of speculation, need to guard against withdrawal of the main quietly. Deep-strong Shanghai yesterday is still a weak trend, the difference is Sinopec Shanghai stock market, real estate section of the weaker, and the Shenzhen Vanke A strong rise in G result. Rising steadily in the context of stock index, the Shanghai and Shenzhen Stock round of speculation into the crazy phase, the subject of hot money led the rise of stocks have become a major driving force for the market rally, and the Fund, led by a small number of institutions in the colored plate with minor make a difference seems to have become the market supporting role. I think that is not the dominant position of the Fund have been replaced, but led the market's Fund began the retreat of reason and see. In addition to some of Shigekura varieties used frying means wheel in order to continue to reap handsome returns, the Fund as a whole position should be that there is a reduction from the recent petrochemical, banking, steel, and other heavyweights have already shown signs of weakening. Therefore, continue to follow the round of speculation of the stock market in the shares still have to beware of indicators fell, and the prices is often in this crazy round of speculation in the end.
Peripheral markets: the Federal Reserve hinted that will continue raising interest rates. Tuesday if the results of Federal Reserve interest-rate market is expected to raise interest rates before the PCT 0.25 to 4.75, while the performance to continue tight monetary policy to curb inflation, affected in significant adjustment in U.S. stocks, the dollar significantly against the yen rose in April gold fell 562.80 U.S. dollars / oz; by the situation in Nigeria and Iran, the impact of sharply higher oil revenues in New York in May 66.07 U.S. dollars / barrel. European stock markets on Wall Street interest rates affect the overall adjustment, telecommunications led the declines. Asia-Pacific Japan's stock market rose in capital driven. Due to concerns about oil prices and interest rates affect the expected U.S. stocks to adjust short-term shocks.
SME board reviews
Led blue-chip small and medium plates. Suning Appliance (002,024 market, information, advice, more), have led the drive Tuesday Shigekura heavyweight board index continued its upward impact on small and medium resistance area, and before the echoes in the cap, lower-body Shigekura Lunzhang blue chip stocks as the stability of small Market the strength of its rise will help the market to digest the top of some sort of relief of pressure, but should pay attention to the recent rapid rotation of hot spots, with the larger volume, indicating differences in short-term market continues to increase, short-term characteristics of the operation is also more obvious, it should be noted that small and medium plate increased short-term market volatility, the trend has emerged.
Fund Market Comments Broad market value of the fund return. Yesterday, the closed-end fund market again surged across the board, to replace the broad market fund, the small-cap market restructuring fund will become the main varieties of rose, 26 broad market gains of the Fund's average market price of 3.31%. Differentiation from the fund market trends point of view, broad market fund made up is the power of the inevitable development of the Fund Quotes. On the one hand, the fund market is still strong need for good market performance of broad market fund support, on the other hand, in the closed-end funds as a whole worse resale values to gradually narrow the situation, the broad market funds are also an inherent requirement of the return value, and those who discount the level of the top fund species naturally became the focus of the market.
Fund Report for the disclosure of the Fund's market surged another motivating factor. From a closed-end funds to disclose part of the Annual Report of view, first, the institutional fund holders to further enhance the tendency of some institutions, such as social security, QFII and securities dealers set of financial products on the closed-end funds active overweight and enhance investment in the market confidence; Second, with the Fund Report for the disclosure of more than a decade only to have the ability to fund all cash dividends announced dividend program. Inspired by the enthusiasm for investing in dividend will eventually make the market stronger. Based on the stock and fund markets two-way trade-off trend, this fund has not yet concluded Quotes, cash dividends, return of broad market value of the Fund is still the main line of operation of the market.
Large holdings of two stock brokerage recommendation unfinished see next page Total 2 1 [2]
