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
Opinion / Editorials

Move to suspend faulty market stabilizer welcome

(China Daily) Updated: 2016-01-08 07:12

Move to suspend faulty market stabilizer welcome

An investor walks past an electronic display showing prices of shares at a brokerage house in Fuyang city, east China's Anhui province, Jan 6, 2016. [Photo/IC]

The securities authorities' decision on Thursday night to put the "circuit breaker" mechanism on hold-only four days after it was introduced-is commendable. It is never too late to correct wrongs, but lessons have to be learned so that policies of similar significance are devised more carefully.

Thursday's decision was made after trading on the Chinese mainland's stock market was halted for the second time this week, indicating the new stabilizer had failed to serve its purpose.

Domestic stock markets saw another 7 percent dive on Thursday morning, after a similar plunge on Monday, which halted trading for the rest of the day as the circuit breaker kicked in.

There are surely many reasons to explain the worries of investors: The falling value of the renminbi against the US dollar, China's declining manufacturing activities, Wall Street market falls and dimmer global growth prospects all justify concerns. But none of them seems to have weighed more heavily on investors than expectations of a possible glut of share sales as the half-year ban on sales by listed companies' major shareholders was due to expire at the end of this week.

The second daylong trading suspension this week forced the securities watchdog to extend the ban, which was introduced last July as part of the government's efforts to stem the rout that wiped trillions of dollars from market valuations.

By doing so, the securities regulator expects to avoid an imminent wave of pent-up selling pressure that would hit China's volatile exchanges hard. The move to extend the ban, even if belated, was badly needed to ease investors' short-term worries. But it is no replacement for a thorough re-examination of how well or badly the circuit breaker mechanism was acting as a market stabilizer.

Both the growing width and depth of the Chinese stock markets and the increasingly complicated trading technologies demand smart and swift responses from the securities watchdog to ease extreme volatility that could seriously hurt investors' confidence in the long-term health of not only the domestic stock market but also the Chinese economy as a whole.

The introduction of the circuit breaker mechanism, a common practice in many overseas stock markets, is ostensibly meant to create time for investors to calm down in the face of volatile market changes. But the domestic stock markets have quite different regulatory requirements and market conditions.

Fortunately, the securities authorities have recognized the risk of allowing the stabilizer to run on auto-pilot, albeit after paying a huge cost.

Most Viewed Today's Top News
...
主站蜘蛛池模板: 一区二区三区四区av | 少妇高潮流白浆 | 肉色超薄丝袜脚交69xx | 欧美男人天堂 | 精品久久久久久久久久 | 成人资源在线观看 | 亚洲国产黄色片 | 久久视频免费观看 | aaaaaa毛片| aaa特级毛片 | 欧美精品综合 | 午夜黄视频 | 91黄页 | 色综合一区 | 国产九九精品视频 | 国产精品成人一区 | 亚洲精品aⅴ中文字幕乱码 亚洲精品视频在线 | 中文字幕久久精品 | 国产亚洲精品久久久久久 | 朝桐光一区二区三区 | 四虎成人精品永久免费av九九 | 欧美日韩影视 | 国产xxxx视频 | 黄页在线看 | 国产精品毛片一区视频播 | 欧美午夜精品一区二区三区 | 日本免费黄色小视频 | 男人天堂综合 | 久久国产精品网站 | 亚洲午夜免费视频 | 国产一区二区三区四区视频 | 国产中文av在线 | 青青偷拍视频 | 欧美日韩一区在线 | 天天综合网天天综合 | 欧美综合第一页 | 99久久99久久精品免费 | 国产成人麻豆精品午夜在线 | 人人澡超碰碰97碰碰碰 | 亚洲成人黄色 | 日韩欧美高清 |