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

Stocks shoot to seven-year high but volatility remains

(Agencies/chinadaily.com.cn) Updated: 2015-06-05 15:39

Stocks shoot to seven-year high but volatility remains

An investor pays close attention on the stock market at a securities brokerage in Hangzhou city, Zhejiang province, June?5, 2015. [Photo/IC]

China stocks remained volatile on Friday, with the Shanghai benchmark gaining 1.54 percent to close at a seven-year high of 5023.10 points, after shooting above the key psychological level at the opening but then shedding all gains by midday.

Shenzhen's ChiNext index, bellwether of the recent bull run, lost more over 1 percent, with investors becoming increasingly cautious about the growth market.

The Shanghai Composite Index opened above 5,000 points - a key technical resistance level - but ended the morning 0.1 percent lower, at 4,941.01 points. The CSI300 index fell 0.6 percent to 5,148.95 points.

Hong Kong stocks also fell.

High volatility has become a pattern in China's highly-leveraged market, traders said.

On Thursday, before a dramatic V-shaped turnaround, nearly $550 billion of market capitalization had been wiped out.

"It's no longer a market where you can go up and up, with no resistance," said David Dai, Shanghai-based investment director at Nanhai Fund Management Co Ltd.

He said his fund has cut exposure to ChiNext, which trades at 140 times earnings, and is increasing positions in cheaper blue-chips.

The Shenzhen market has caught the attention of Bill Gross, erstwhile Pacific Investment Management Co bond king and now portfolio manager of the Janus Global Unconstrained Bond Fund.

He said in his Twitter account on Wednesday that China's Shenzhen market would be the next "short of a lifetime", but "not just yet."

There are signs the Chinese government is rushing to take advantage of high stock valuations in the stock market.

Premier Li Keqiang said the government would promote domestic listings of start-up firms, while a growing number of Chinese tech companies firms have fallen out of love with America, as they look to drop their listings in New York and head back home.

"We're seeing higher risks in small-cap stocks," said Zhang Chen, analyst at Shanghai hedge fund manager Hongyi Investment.

"But many bluechip companies have attractive valuations. They may take up the baton and lead indexes higher."

Investors are waiting for index publisher MSCI's decision next week on including China A shares in its Emerging Markets index.

HSBC said including China A-shares in global benchmark indices would have huge repercussions, and potentially spur index inflows of billions of dollars.

On Friday, China's banking index lost nearly 3 percent as investors took profit, while real estate stocks were firmer.

The Hang Seng index dropped 0.9 percent at 15:17 local time, to 27,304 points, and the Hong Kong China Enterprises Index lost 1.24 percent, to 13,952.

He Yini contributed to the story.

 

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 一本色道久久综合亚洲精品酒店 | 激情婷婷久久 | 国产1区二区 | 成人性生交大片免费看r链接 | 欧美精品自拍偷拍 | 日本天堂网 | 奇米影视狠狠干 | aaa一区二区三区 | 亚洲色图日本 | 日本裸体网站 | 中文字幕不卡 | 国产精品区一 | 亚洲天堂一区在线观看 | 国产中文字幕在线 | 一个人看的www在线视频 | 日本高清www | 国产免费高清 | 久久成人精品 | 精品国产香蕉 | 美女一区二区三区四区 | 国产高h| 精品资源成人 | 成年人在线观看视频网站 | 极品闺蜜苏姨小说阅读 | 日韩精品三区 | 日韩影视在线 | 色网av| 五月婷婷色综合 | 婷婷一区二区三区 | 精品一区二区三区免费看 | 午夜毛片在线观看 | 久久一区二区视频 | 成人自拍视频在线观看 | 激情视频在线播放 | 国产视频综合 | www.九九热| 免费亚洲婷婷 | 午夜视频成人 | 日韩中文在线视频 | 欧美爱爱视频 | 天天做夜夜操 |