日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

US EUROPE AFRICA ASIA 中文
Business / Policy Watch

Re-lending business gets green light

By Gao Changxin in Shanghai (China Daily) Updated: 2012-08-29 10:02

Securities regulators have mapped out rules to pilot a program allowing securities brokerages to re-lend borrowed money and securities to finance margin trading.

The new move is set to further boost fledging yet fast-growing margin trading in the mainland's stock market, but could further pressure a market that is retreating toward the psychologically important level of 2000 points, analysts say.

The China Securities Regulatory Commission issued a notice on Monday allowing the Shanghai and Shenzhen stock exchanges to start the program, instructing them to choose the right time to launch it, initially on a trial basis.

Under the pilot, securities houses are allowed to re-lend money and securities borrowed from lenders, insurance companies and mutual funds to their clients in margin trading.

China Securities Finance Co has been set up, with registered capital of 12 billion yuan ($1.89 billion), to lend to the brokerages.

The first batch of 11 securities brokerages has got the green light to conduct re-lending business, according to Shanghai Securities News.

Margin trading was first introduced in China in 2010, when investors were allowed to conduct margin trading using their own stocks as collateral.

As of Aug 15, a total of 69 securities companies are able to conduct margin trading and the number of investors has reached 329,500, according to China Securities Finance Co.

The total volume of margin trading was around 1.59 trillion yuan, with 66.4 billion yuan currently being traded.

Margin trading is essential to build what regulators call a "comprehensive" stock market, as it allows short-selling for the first time in the world's second-biggest stock market by capitalization. Short-selling adds to market volatility but allows investors to profit in bear markets.

Wang Jianhui, chief economist with Southwest Securities Co Ltd, believes that the new measure will further boost the volume of margin trading.

"Investors will have more sources of funding and they will trade more, with more funds in hand," he said.

More short-selling could dampen any hopes of a market rebound in the short term.

The Shanghai Composite Index edged up 0.85 percent, or 17.45 points, to 2,073.15 points on Tuesday, after dropping 1.74 percent to a three-year low on Monday. The index is down 2.61 percent this month and 5.74 percent so far this year.

Zhang Zhaowei, a senior analyst with Huaan Securities Co Ltd, wrote in a research note that there is still room for declines.

"Economic growth has shown signs of rebounding in the short term, and the issuing of new shares and the freeing of restricted shares strains market liquidity," he wrote.

Shares of securities companies, however, benefited from the news. Guojin Securities Co Ltd jumped by about 6 percent, suggesting investors believed the new measure will boost industry profitability.

The sector slumped by more than 5 percent on Monday, as a massive amount of restricted shares hit the market.

gaochangxin@chinadaily.com.cn

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 一个色的综合 | 黄色1级毛片 | 少妇特黄a一区二区三区 | 亚洲视频a | 国产精品中文字幕在线观看 | 91精品福利视频 | 啪啪五月天| 91极品国产 | 免费观看黄色网 | 超碰伊人网| 天堂综合网久久 | 亚洲黄色影视 | 中文字幕日韩专区 | 中文字幕导航 | 日本在线观看一区二区三区 | 三级理伦| 日韩三级高清 | 国产精品久久久免费 | 亚洲精品一区二区三区在线播放 | 久久亚洲综合色 | 在线视频观看你懂的 | 成人高清视频免费观看 | 亚州av网 | 免费观看黄色片子 | 亚洲最大av网站 | 少妇高潮久久久 | 日韩av线| 日韩精品中文字幕一区二区 | 国产精品第十页 | 国产一区二区三区精品视频 | 色呦呦一区 | 黑人操女人 | 成年人在线 | 亚洲视频在线一区 | 日韩一级黄 | 看全色黄大色黄女片18 | 天美传媒mv免费观看 | 色桃花网| 波多野结衣午夜 | 色播激情| 国产精品xxxxxx |