Business
Wednesday July 8, 2015
lost nearly 30% in three weeks
The general index of the Shanghai Stock Exchange, the benchmark of Chinese parquet, opened with losses of 2.13 percent (74.74 points), to 3432.45 integers, although three minutes after opening and sank 3.35 percent.
In the course of the day the Chinese leading indicator is volatile, fluctuating between positive and negative terrain.
The Shanghainese benchmark index, which has lost a third of its value since last June 12, the last day of seven months of rally that had driven up to their highest levels since 2008, sank another 5.9 percent yesterday, despite unprecedented new measures promoted by Beijing to fix it.
The most recent were taken last night when the regulator ordered the large state-owned Shanghai and Shenzhen shareholders not to sell any of its shares in the next six months.
The other country’s securities market, the Shenzhen Stock Exchange, today also opened 0.79 percent lower.
In this way, Chinese stocks continue being already the fourth week of heavy losses almost unchecked, as an extension of which have already been tri-weekly worst results in the quarter century of history Chinese stock markets.
Beijing’s efforts are designed mainly to combat panic among about 90 million individual investors participating in Chinese stocks, often people with very rudimentary or nonexistent financial knowledge, they have turned their savings in the stock and act intuitively.
It is estimated that over 257 million of its stock market investments accounts subscribed across the country, these investors generate about 80 percent of daily turnover on the Chinese parquet, and impulsivity and sensitivity to rumors make both markets two of the most volatile parks in the world
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