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 / Markets

Bubble fears trigger fall in equities

(Agencies) Updated: 2015-06-19 07:23

Bubble fears trigger fall in equities

Investors check share prices at a securities brokerage in Jiujiang, Jiangxi province, on Thursday. The benchmark Shanghai Composite Index tumbled 3.7 percent to close at 4,785.36 points, taking its declines for the week so far to 7.4 percent. [Photo/China Daily]

Mainland stocks appear to be heading for their steepest weekly loss since February 2009 as initial public offerings drained cash from the market and investors speculated the recent gains have gone too far.

The Shanghai Composite Index tumbled 3.7 percent on Thursday, taking its declines for the week to 7.4 percent, led by technology and consumer companies.

Analysts are increasingly warning the stock market is in a bubble that will burst after the gauge more than doubled in the past 12 months to reach its highest levels in seven years. IPOs this week will draw about 6.7 trillion yuan ($1.1 trillion) of bids, according to a Bloomberg survey of forecasters.

"Stocks have risen too much and valuations have reached critical levels," said Shen Zhengyang, an analyst at Northeast Securities Co in Shanghai. "Anything that is slightly negative can affect the market."

David Woo, the head of global rates and currencies research at Bank of America Corp, said the bubble in China's stocks rivals the dotcom boom of the late 1990s and its eventual collapse will have consequences for markets around the world.

A market crash may come within six months, Bocom International Holdings Co said on Tuesday, citing an analysis of global bubbles over 800 years.

The Shanghai index has jumped 133 percent in the past 12 months and trades at 18 times 12-month projected earnings, compared with the five-year average multiple of 10.3, according to data compiled by Bloomberg. Thursday's trading volumes were 13 percent lower than the 30-day average.

The CSI 300 Index lost 4.1 percent. Hong Kong's Hang Seng China Enterprises Index decreased 1.1 percent. The Hang Seng Index slid 0.2 percent. The ChiNext index of smaller and startup companies sank 6.3 percent, paring its gain this year to 138 percent.

Leshi Internet Information & Technology (Beijing) Co, the biggest mainland-listed Internet video provider, tumbled by the 10 percent daily limit. Liquor makers Kweichow Moutai Co and Wuliangye Yibin Co slid more than 4 percent.

Subscriptions for 25 IPOs including Guotai Junan Securities Co may tie up the most funds since January 2014 when China resumed new share approvals, according to China International Capital Corp.

The seven-day repurchase rate, a gauge of funding availability, rose 16 basis points to 2.5 percent in Shanghai, a weighted average from the National Interbank Funding Center showed. That's the highest since April.

The People's Bank of China did not extend at least some of the funds issued via its Medium-term Lending Facility, people familiar with the matter said. Some 670 billion yuan in three-month MLF loans mature this month, according to Bloomberg calculations.

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 亚洲天天综合 | www.国产欧美 | 超碰国产在线 | 国产123在线 | 国产一区精品在线 | www.黄色com| 日本免费精品视频 | 亚洲国产视频网站 | 2019亚洲天堂| 日韩在线精品 | 伊人色影院 | 欧美专区在线 | 在线视频97 | 日韩中文字幕一区二区 | 免费国产成人看片在线 | 久久久精品在线观看 | 秋霞欧美网 | 亚洲国产欧洲 | 黄色成年人视频 | 日韩一区二区三区在线 | 一级裸体片| 另类视频在线 | 日本免费www | 欧日韩在线 | 亚洲毛片在线看 | 欧美成人免费视频 | 久久综合网址 | 欧美大胆a视频 | 青青艹av | av在线天堂| 操你啦影院| av大片在线观看 | 午夜资源网 | 久久天天综合 | 天堂综合网久久 | 日本免费黄色网址 | 亚洲国产第一区 | 美日韩av | 久久久视频在线 | 亚洲激情一区二区 | av集中淫 |