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Monday 23 June 2008
New moves by China soon?
CHINESE regulators, alarmed at the slide in share values this year and persistent rampant volatility, are contemplating new measures to boost the stock market.
CHINESE regulators, alarmed at the slide in share values this year and persistent rampant volatility, are contemplating new measures to boost the stock market.
These include the setting up of a market stabilisation fund and permitting brokers to offer margin trading, the Financial Times reported on its website on Friday, citing unnamed sources.
“Our unofficial bottom line right now is 2,000 points,” the FT quoted a Chinese regulatory official as saying. “After that, we will make some more serious recommendations to the central government to help support the market.”
China’s benchmark Shanghai Composite Index rose 82.86 points, or 3 per cent on Friday to 2,831.74. The index has lost 46 per cent since the beginning of the year.
The new measures being considered come after Beijing cut the stamp duty on share transactions from 0.3 to 0.1 per cent in April in a move to bolster sentiment.
The China Securities Regulatory Commission (CSRC) has also in recent months held back approvals for new listings to reduce the supply of new shares into the market.
Also, at the Sino-US dialogue in Washington on Thursday, Chinese negotiators agreed to shorten the lockup period for capital from foreign institutional investors in its stock market from one year to three months.
Unnamed Chinese officials were quoted by the FT as saying the CSRC was under enormous pressure from senior government leaders and the public to halt the steep slide in the stock market. CHINESE regulators, alarmed at the slide in share values this year and persistent rampant volatility, are contemplating new measures to boost the stock market.
These include the setting up of a market stabilisation fund and permitting brokers to offer margin trading, the Financial Times reported on its website on Friday, citing unnamed sources.
“Our unofficial bottom line right now is 2,000 points,” the FT quoted a Chinese regulatory official as saying. “After that, we will make some more serious recommendations to the central government to help support the market.”
China’s benchmark Shanghai Composite Index rose 82.86 points, or 3 per cent on Friday to 2,831.74. The index has lost 46 per cent since the beginning of the year.
The new measures being considered come after Beijing cut the stamp duty on share transactions from 0.3 to 0.1 per cent in April in a move to bolster sentiment.
The China Securities Regulatory Commission (CSRC) has also in recent months held back approvals for new listings to reduce the supply of new shares into the market.
Also, at the Sino-US dialogue in Washington on Thursday, Chinese negotiators agreed to shorten the lockup period for capital from foreign institutional investors in its stock market from one year to three months.
Unnamed Chinese officials were quoted by the FT as saying the CSRC was under enormous pressure from senior government leaders and the public to halt the steep slide in the stock market.
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New moves by China soon?
CHINESE regulators, alarmed at the slide in share values this year and persistent rampant volatility, are contemplating new measures to boost the stock market.
These include the setting up of a market stabilisation fund and permitting brokers to offer margin trading, the Financial Times reported on its website on Friday, citing unnamed sources.
“Our unofficial bottom line right now is 2,000 points,” the FT quoted a Chinese regulatory official as saying. “After that, we will make some more serious recommendations to the central government to help support the market.”
China’s benchmark Shanghai Composite Index rose 82.86 points, or 3 per cent on Friday to 2,831.74. The index has lost 46 per cent since the beginning of the year.
The new measures being considered come after Beijing cut the stamp duty on share transactions from 0.3 to 0.1 per cent in April in a move to bolster sentiment.
The China Securities Regulatory Commission (CSRC) has also in recent months held back approvals for new listings to reduce the supply of new shares into the market.
Also, at the Sino-US dialogue in Washington on Thursday, Chinese negotiators agreed to shorten the lockup period for capital from foreign institutional investors in its stock market from one year to three months.
Unnamed Chinese officials were quoted by the FT as saying the CSRC was under enormous pressure from senior government leaders and the public to halt the steep slide in the stock market. CHINESE regulators, alarmed at the slide in share values this year and persistent rampant volatility, are contemplating new measures to boost the stock market.
These include the setting up of a market stabilisation fund and permitting brokers to offer margin trading, the Financial Times reported on its website on Friday, citing unnamed sources.
“Our unofficial bottom line right now is 2,000 points,” the FT quoted a Chinese regulatory official as saying. “After that, we will make some more serious recommendations to the central government to help support the market.”
China’s benchmark Shanghai Composite Index rose 82.86 points, or 3 per cent on Friday to 2,831.74. The index has lost 46 per cent since the beginning of the year.
The new measures being considered come after Beijing cut the stamp duty on share transactions from 0.3 to 0.1 per cent in April in a move to bolster sentiment.
The China Securities Regulatory Commission (CSRC) has also in recent months held back approvals for new listings to reduce the supply of new shares into the market.
Also, at the Sino-US dialogue in Washington on Thursday, Chinese negotiators agreed to shorten the lockup period for capital from foreign institutional investors in its stock market from one year to three months.
Unnamed Chinese officials were quoted by the FT as saying the CSRC was under enormous pressure from senior government leaders and the public to halt the steep slide in the stock market.
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